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Allen Adds to South Lake Union Portfolio

SEATTLE, WA-In a $7.86 million transaction, Microsoft co-founder Paul Allen adds a 1.5-acre former furniture store property to his $100 million in holdings near the southern shore of Lake Union.

By Janet Parker | Updated on December 05, 2000

SEATTLE, WA-Microsoft co-founder, Paul Allen, has purchased the Ducky’s Office Furniture property on the east side of Boren Ave., between Republican and Mercer streets. The transaction, reported to be $7.86 million, also included a parking lot at the SE corner of Republican and Boren.

In 1997, ten acres in the South Lake Union area reverted to Allen upon the failure of the Commons initiative, which he had backed. That property became the core of his South Lake Union portfolio. With that parcel and his acquisitions here since Allen has amassed approximately 35 acres. Reports place the full amount spent on properties, through the billionaire’s Vulcan Northwest Inc., in the vicinity of $100 million. This most recent purchase, totaling approximately 1.5 acres, was acquired from Savage Wholesale Building Materials Inc. of Tacoma.

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