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What Slump? Union Station Building Sells for $66 Mil

SEATTLE, WA-CB Richard Ellis calculates office vacancy rates in downtown Seattle at more than 12% in some areas. Nonetheless, a buyer under the name Seattle Union Station II LLC has paid $261/sf for Opus Center South.

By Janet Parker | Updated on June 21, 2001

SEATTLE, WA-Though downtown Seattle’s office market is limping along, the Opus constructed buildings in master-planned Union Station are apparently still attractive.

Opus Center South, with 254,000-sf of Class A space, sold last week for $66.3 million to Seattle Union Station II LLC. The 11-story building completed in April was the third, and last, Union Station project of Bellevue-based Opus Northwest. According to Tom Parsons, Opus NW’s president, that building is fully leased (reportedly to Amazon.com).

The person behind Seattle Union Station II LLC appears to be somewhat of a mystery. At least one news report has pointed to local billionaire Keith McCaw. However, Parsons, who is contractually prohibited from discussing the identity of the buyer, said that some reports have erred in their suppositions. He did not say which reports were wrong. GlobeSt.com was unable to obtain necessary records to identify the member/s of Seattle Union Station before deadline.

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