Korean Buyer Shells out $246M for Seattle’s Amazon Phase VIII

Mirae Asset Global Investments of Korea is the new owner of Amazon Phase VIII, a 12-story, 317,000-square-foot retail and office building in Seattle’s South Lake Union neighborhood. Local developer Vulcan Real Estate pocketed $246.8 million for the building, which is Amazon headquarters’ eighth phase. Vulcan completed the development at 325 Ninth Ave. N. during the summer of 2015.

The transaction represents Mirae Asset’s first office property on the West Coast, though it owns the Fairmont Hotel in San Francisco, along with seven other assets in the United States. The buyer also owns Mirae Asset Tower in Shanghai and the Four Seasons Hotel in Sydney.