In July, we learned that Beacon Capitol was moving forward with plans to purchase the 22-story Exchange Building at 821 Second Avenue in Downtown Seattle. Now we know the pricetag: $66M. That's actually 18% less than what the previous buyer paid. Beacon plans to invest in the 83-year-old building to make it more attractive to prospective tenants.
Designed by John Graham & Associates and completed in 1930, the Exchange Building was, at the time, the second-tallest reinforced concrete skyscraper in the United States.
· Boston company pays $66M for Exchange Building in downtown Seattle [PSBJ]
· Beacon Capital Purchasing Seattle's Historic Exchange Building [Curbed Seattle]