SEATTLE—Vulcan Real Estate has sold 401 Terry Avenue North building in South Lake Union to Los Angeles-based Kilroy Realty Corporation for $106.1 million.
Developed in 2003, the premier, LEED Gold certified building was one of Vulcan's first projects in South Lake Union, now considered one of the leading technology and healthcare innovation centers in the nation. The four-story building was designed and constructed to the highest technical standards capable of accommodating a broad range of occupancy needs in the life sciences industry. The office and lab building consists of state-of-the-art biology lab space, including dedicated, independent air handling systems and redundant power capabilities.
The building is 100% leased to the Institute of Systems Biology, a leader in the field of developing new strategies in biology and medicine. The existing lease to ISB totals 140,605 square feet.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
