You might know the 2200 Westlake Complex as "Where the Whole Foods is in South Lake Union" but however you know it, it has a new owner. Vulcan Real Estate has sold the property to Houston-based Weingarten Realty for $65 million.
The sale includes 73,800 square feet of space in the mixed-use project on the corner of Westlake and Denny Way, as well as 412 parking stalls. The sale does not include the Pan Pacific Hotel, which is connected to the complex. Current retail tenants include Bank of America, BeLuminous Yoga, Scraps Dog Bakery, Starbucks, and Tutta Bella Neapolitan Pizzeria. Only one retail space is currently available for lease, the former Seastar restaurant space.
It's the latest property sale in the area for Vulcan, who says they have now sold $3 billion in assets, much of which they hope to use to buy and develop real estate elsewhere in the region (such as in Yesler Terrace and Central District). Vulcan received around $21 million when it sold 2201 Westlake last year.
· Vulcan sells project that helped begin S. Lake Union transformation [ST]
· After $65 million sale, Whole Foods has a new landlord in South Lake Union [PSBJ]