Schnitzer West Sells 291,000 SF Office Building in Seattle for $268.9M
SEATTLE — Schnitzer West has sold Urban Union, a Class A office building in Seattle’s South Lake Union neighborhood, for $268.9 million, according to The Seattle Times.
A joint venture between TriStar Capital and RFR Holding purchased the property. The building opened last year and recently underwent a $10.5 million alteration project for Amazon, the building’s main tenant, according to The Times.
Totaling 12 stories and 291,000 square feet, Urban Union features a coffee shop, restaurant, rooftop conference deck, fitness center, locker rooms, bike lockers and concierge services. Seattle-based architecture firm CollinsWoerman designed the building.
Just north of downtown, the South Lake Union neighborhood stretches from the Space Needle along the southern waterfront of Lake Union. The area is known for its restaurants, art galleries and museums.
Schnitzer West is a real estate developer and manager of office properties, largely in the Seattle and Denver metros. TriStar and RFR are both New York City-based investment firms.
— Jeff Shaw