Cushman & Wakefield has announced the sale of Queen Anne Plaza, a four-story office building in Seattle’s Lower Queen Anne neighborhood. The property, which also includes two levels of parking, is set to undergo an office-to-residential conversion – the first of its kind since the pandemic began.
The transaction was facilitated by Cushman & Wakefield’s team consisting of Dan Chhan, Tim McKay, Sam Wayne and Matt Kemper who represented Stream Real Estate based in Seattle. Andrew Shultz and Brandon Burmeister from Cushman & Wakefield represented the seller in this deal. The property is located at 201 Queen Anne Ave N and was purchased by Stream Real Estate for $7 million from East West Investment Company Inc.
According to Chhan, “Queen Anne Plaza presented an excellent opportunity for a multifamily conversion due to several factors.” He further added that with no existing tenants on site, Stream Real Estate will be able to quickly execute their transformation plan without any hindrances. As per their website information , all properties owned by Stream are LEED® certified as they strive towards achieving carbon neutrality.
This recent development marks another successful transaction for Cushman & Wakefield as they continue to facilitate deals across various sectors within Seattle’s central business district.
