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Historic Colman Building in Seattle Sells Through Receivership
The Colman Building, a historic office building on First Avenue in downtown Seattle, has been sold through a receivership process.
Kidder Mathews’ Darren Tappen, Andy Miller, Pete Beauchamp, and Nathan Thinnes represented John A. Rothschild of Newmark, the court-appointed receiver, in facilitating the sale. The buyer, Jay Bhullar, acquired the 143,922-square-foot retail and office property.
Constructed more than 125 years ago, the Colman Building is a cornerstone of Seattle’s Pioneer Square area, located at 811 1st Avenue near public transportation hubs and key destination points. Its proximity to the ferry terminal, the Marion Street Pedestrian Bridge, and the recently revitalized Seattle Waterfront has cemented its status as a landmark property.
“Colman’s prime location in downtown Seattle, combined with its unique history, offered a rare acquisition opportunity,” said Miller. “This was reflected in the strong interest from both local and out-of-market buyers.”
The Colman Building has a diverse tenant mix, ranging from boutique businesses to national companies. The buyer plans to reactivate its street-level retail spaces.
