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Publix Hotel Project Breaks Ground, Rollin Street Flats Sold

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I-DISTRICT -- Uwajimaya Inc. and Spectrum Development Solutions broke ground Monday on their redevelopment of the historic Publix Hotel at 5th Avenue and South King Street. The $24M project will include the extensive rehabilitation of The Publix and the partial demolition of an adjacent building to make way for 125 market-rate apartments and retail space. The Publix is expected to re-open in early 2016. [Uwajimaya]

SOUTH LAKE UNION-- Vulcan Real Estate announced Monday that it had sold Rollin Street Flats to San Francisco–based Stockbridge Capital Group for $138.2M. Located at the prominent intersection of Westlake and Denny, the 11-story building features 208 LEED Gold certified loft-style apartment homes, including five penthouse homes ranging from 1,579 to 2,036 square feet. [Vulcan]

BELLEVUE -- Beacon Capital Partners sold a 3-acre downtown Bellevue development site to Chinese group Plus Investment USA for $45.9M on Friday. The company also owns a large property adjacent to this one which they paid $30M for. The group reportedly plans to build, what else, a mixed-use development there. [PSBJ]