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DivcoWest Snags Seattle’s West Lake Union Center for $118M
DivcoWest purchased West Lake Union Center, a 10-story Class A office building in Seattle’s popular South Lake Union submarket, reportedly from RREEF for $118.3 million. Located at 1505 Westlake Ave. North, the property offers 218,454 square feet of office space as well as subterranean parking for more than 450 cars.
DivcoWest’s Beau Heidrich says, “Our focus on Seattle is based on strong tenant demand across a wide range of innovation and supporting industries. South Lake Union is a particularly desirable location for many of the tenants we regularly interact with, and we are excited to begin investing in this property to bring it to its full potential as a meeting place on the lake for tenants large and small.”
West Lake Union Center was constructed in the early 1990s. Tenants enjoy the building’s 10-story atrium and sweeping views of Lake Union and downtown Seattle.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
