The 13-story building was purchased in 1999 for $34 million by Seattle Telecom LLC. The subsequent dot-com bust eliminated the demand for such space, and the partnerships plans to renovate the building into a data center went bust.
Building tenants included telecom provider Global Crossing Ltd., which filed for bankruptcy early in the year and vacated the two floors it had occupied in the building.
Lehman Brothers planned to foreclose on the property when the partnership fell behind on payments but delayed any action to allow the partnership to work on restructuring its debt.
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