The property, the vast majority of two blocks bounded by Westlake and Ninth avenues and Republican and Broad streets, is currently used by two car dealerships, Pacific Lincoln Mercury and Land Rover, according to city property records. Westlake Properties, the listed taxpayer on the property, did not return a phone call seeking comment.

The acquisition gives Allen control of the better part of six contiguous blocks bounded by Broad Street, Westlake Avenue and Republican Street, and brings his overall South Lake Union portfolio to about 55 acres, according to public records.

Vulcan Inc., which controls Allen's investments, says in a press release that it has no immediate plans to redevelop the newly acquired property. A company spokesman did not return a phone call seeking further comment.