“The box the Space Needle came in” could belong to someone new very soon. The Seattle Times reports that a German real estate fund management group called GLL has agreed in principle to purchase the 50-story, 630 ft tower for $387 million.
The sale would be the biggest in King County since Columbia Center sold for $711 million last August.
The deal for the building at 1001 Fourth Avenue has been in the works for months but has not formally been submitted to the city yet. The California Public Employees’ Retirement System last bought the building in 2005 for $163 million.
It’s currently the fifth-tallest building in Seattle, just behind Seattle Municipal Tower (740 feet) and just ahead of U.S. Bank Centre (606 feet).