Lincoln Property Co. Buys 103,494 SF Office Building in Seattle for $58.7M

SEATTLE — Lincoln Property Co. has purchased 501 Eastlake, an office property located in Seattle’s South Lake Union submarket. LBA Realty sold the five-story property for $58.7 million, or $568 per square foot.

Built in 2002, the 103,494-square-foot property features an on-site athletic facility and walkable amenities. At the time of sale, the building was 79 percent leased to a variety of tenants, including the regional headquarters of Capital One.

Kevin Shannon, Nick Kucha, Michael Moll, Tim O’Keefe and James Childress of NKF Capital Markets represented the seller in the transaction.