An office building that Amazon currently occupies in South Lake Union was just sold for $268.9 million – one of the priciest sales in the region according to the Seattle Times. It was previously owned by Schnitzer West, and has now been dealt to TriStar Capital and RFR Holding.
The recently sold building, at 501 Fairview Ave N, is called Urban Union. It has 12 stories and a distinctive cube-like door, with a total of 290,000 square feet. Urban Union opened last year, which was followed with a $10.5 million alteration for a 12th-floor rooftop, fitness center and more.
Although it is one of the most expensive sales this region has ever seen, at approximately $925 per square foot, our recent history indicates that this isn’t unusual. KOMO Plaza sold last month for $276 million (and that’s an older building, albeit a different kind), and other office buildings in the Lake Union and Downtown areas have sold for more total money.