Seattle & Northwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Vulcan Sells Seattle’s Arbor Blocks to Florida Investor for $415M
An entity affiliated with Miami-based Ponte Gadea acquired Seattle’s Arbor Blocks, a roughly 390,000-square-foot office development, from Vulcan Real Estate for a reported $415 million. The buyer, Ponte Gadea Seattle LLC., is connected to Spanish retailing titan Amancio Ortega’s investment firm.
Vulcan developed the pair of Class A buildings with supporting retail and amenities at 300 and 333 Eighth Ave. N. in Lake Union after inking Facebook to a long-term lease. The development received $166.7 million in construction financing from U.S. Bank and JPMorgan Chase, and delivered earlier this year.
The six-story buildings were designed to achieve LEED Gold certification and include such sustainable features as bioretention cells, stormwater-fed irrigation systems and outdoor workspaces. The pedestrian-friendly property features buildings separated by a “woonerf,” a Dutch word that refers to a street where pedestrians and bicycles have priority over motor vehicles.
NKF’s Kevin Shannon, Nick Kucha, Mike Moll, Rob Hannan, Ken White, Alex Foshay, and Bill Delacy, in cooperation with NKF local expert Jesse Ottele, represented the seller.
Vulcan’s Robert Arron and Geralyn Vannoy handle leasing at the property.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
