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 Amazon.com campus, for just north of $2.4 billion.
· Vulcan gets record price for Westlake office building [ST]