SEATTLE—Urban Renaissance Group has acquired the Rosen Building in Seattle from Vulcan Real Estate for $41 million.
Located at 960 Republican Street in the South Lake Union neighborhood, the Rosen Building is a class-A biotechnology office building totals more that is approximately 60,000 square feet. The University of Washington School of Medicine operates a biomedical research facility in the building under a long term lease and is its sole tenant.
“The Rosen Building is (Urban Renaissance Group's) URG's first life sciences building and represents our ongoing portfolio diversification,” said URG founder and CEO, Patrick Callahan. “We're thrilled to own this building and see it as a long-term hold opportunity.”
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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.
