Met Tower is located in the tech epicenter of the South Lake Union and Belltown neighborhoods.
SEATTLE—Met Tower, a 366-unit high-rise multifamily building located in the South Lake Union neighborhood, was acquired for $216.1 million. The property was sold free and clear of existing financing.
JLL marketed the property exclusively on behalf of the seller and procured the buyer, Continental Properties. Continental Properties was the original developer of the property in 2001.
Met Tower is located at 1942 Westlake Ave. in the tech epicenter of the South Lake Union and Belltown neighborhoods. Not only is it in within walking distance to top employers but more than 4 million square feet of retail and attractions within a half mile, including Washington State Convention Center, Pike Place Market, the Seattle waterfront, Seattle Center, Westlake Center and Denny Park. The transit-oriented property also offers immediate access to the SLU Streetcar across 7th Avenue and is a short walk to the Westlake Station Transit Center, which provides connectivity throughout Puget Sound via Link light rail.
The JLL capital markets team representing the seller was senior managing director Ira Virden, senior director Christopher Ross and executive managing director Matthew Lawton.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
