Lakefront Blocks Remains Highly Sought Prop via New Sale

Not to be denied Seattle-worthy business headlines, Google is (somewhat) involved with a new office-space deal at Lakefront Blocks, in the South Lake Union submarket of The Emerald City. 

The sale of the 635,000-square-foot space, where Alphabet Inc. is the tenant, is part of a deal worth $802 million. A Cushman & Wakefield team of Kevin Smith, Gerry Casimir, Bill Burke, Nikki Lam and Tom Weber advised the buyer, Deka Immobilien, in the transaction and will assist with the ongoing management of the campus. 

Vulcan Real Estate and Newmark have announced the sale. German investment firm Deka Immobilien is the buyer. Google (an internet search engine that shows promise) is the tenant. 

After this deal’s closing, Vulcan will retain five operating assets in the South Lake Union district, according to a news release.

“The Lakefront Blocks, with its world-class views, sustainable design features and strong credit tenancy is truly one of South Lake Union’s trophy assets,” said Ada M. Healey, Chief Real Estate Officer for Vulcan. “The strong interest we received in the property is testament to the enduring quality of this institutional-grade investment,” via the same release.