CBRE has announced that King County purchased Seattle landmark Dexter Horton Building for $36.6 million. The purchase will save King County nearly $2 million per year in leasing costs.

Located at 710 2nd Avenue, the Dexter Horton Building is 15 stories high and 335,000 square feet. King County’s Department of Public Defense is one of nine tenants in the building, and the deal is a result of efforts to work with ING Group, a lender to the original property owner, to create an amicable deal to transfer ownership to the county. CBRE’s Craig Kinzer, Steve Schwartz and Sean Sussex represented the buyer, King County.

“The sale of Dexter Horton represented a rare investment opportunity, and King County was well-positioned to capitalize on today’s office market,” said CBRE Vice Chairman Craig Kinzer, who represented King County alongside CBRE’s Steve Schwartz and Sean Sussex. “The building offers many possibilities that will contribute to the vibrancy of downtown Seattle and the county’s investment is a testament to their commitment to the growth of Seattle.”