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Seattle's Historic Dexter Horton Building Back on the Market

Image: Joe Mabel

Built in 1924 to pay tribute to one of Seattle's founding fathers, it seems the Dexter Horton Building at 710 2nd Avenue isn't one that many companies want to hold onto for too long. The Carlyle Group and Goodman Real Estate acquired it from the city in 2000 for $46 million. After an overhaul and refurbishment, they sold it to LaSalle Investment Management in 2006 for $81 million. Gerding Edlen bought it from them in 2013 just over $76.6 million. If they were keeping to the pattern, they'd sell it around 2019 or so. Instead, they're selling it right now after pumping $7.4 million in upgrades into the terra-cotta clad historic site. No word on asking price but the 336,500-square-foot building is currently 89 percent leased and currently home to companies such as Bill Gates' Corbis Corp., AOL and Vix Technology.
· For sale: Downtown Seattle's landmark Dexter Horton Building [PSBJ]
· Seattle's historic Dexter Horton Building sold for $77M [ST]
· Regal Restoration [NREI]
· Mapping Seattle's Most Significant Terra Cotta Buildings [CS]