Twelve-Story South Lake Union Office Building Trades

 SEATTLE—American Realty Advisors and Vulcan Real Estate have completed a deal for Vulcan’s sale of 2201 Westlake Avenue, a fully-leased best-of-class office/retail property in the heart of South Lake Union. The building is currently leased to high-profile office and retail tenants, including Amazon and global health innovator, PATH.  Located at the corner of Westlake Avenue and Denny Way, 2201 Westlake is a 12-story 317,000 square-foot LEED Gold certified high-rise building developed by Vulcan in 2009.

“Opportunities to acquire a newly-constructed building with high-quality tenants at a ‘Main and Main’ location are rare,” said Drew Hess, senior director, investment group for American. “This purchase secures a fully-leased class A asset at an ideal location and still offers strong rental growth opportunities beyond an attractive risk-adjusted return.