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$251M Sale of Vulcan's 2201 Westlake Sets Record

An office building has been sold in South Lake Union and so you know Vulcan Real Estate has to be involved. Paul Allen's company just sold the 2201 Westlake building to a partnership run by American Realty Advisors for $251 million. When broken down by square-footage, the $791/square-foot price is a new record for the highest price paid for a Seattle-area office building. The old record was $745/square-foot paid for 202 Westlake. Amazon is the biggest tenant in the all-concrete 12-story structure (duh) and they share the space with health organization PATH as well as retailers West Elm, Bang & Olufsen, Einstein Bagels and Ann Sacks Tile & Stone. Since 2012, Vulcan has now sold 12 buildings in the neighborhood, including the campus, for just north of $2.4 billion.
· Vulcan gets record price for Westlake office building [ST]

West Elm

2201 Westlake Ave., Seattle, WA 98121