CBRE has announced the purchase of Seattle’s iconic Dexter Horton Building by King County for $36.6 million. This acquisition will result in significant cost savings for the county, estimated at nearly $2 million annually.
Situated at 710 2nd Avenue, this 15-story building spans over 335,000 square feet and is home to nine tenants including King County’s Department of Public Defense. The successful deal was made possible through collaboration with ING Group – the lender to the original owner – to facilitate a smooth transfer of ownership.
Represented by CBRE experts Craig Kinzer, Steve Schwartz and Sean Sussex, King County seized a unique investment opportunity in today’s competitive office market with their strategic purchase of Dexter Horton Building. According to Vice Chairman Craig Kinzer from CBRE who worked alongside his colleagues on behalf of King County: “The sale presented an exceptional chance for investment and our client was well-positioned to take advantage.” He added that this landmark property offers endless possibilities that will contribute towards downtown Seattle’s vibrancy while also showcasing the county’s commitment towards its growth.
This news article originally appeared on Connect CRE website.
