The Colman Building, a notable office building situated on First Avenue in downtown Seattle, has been successfully sold through a receivership process.
Leading the sale was Kidder Mathews’ team of Darren Tappen, Andy Miller, Pete Beauchamp and Nathan Thinnes who represented John A. Rothschild of Newmark – the court-appointed receiver. The property was acquired by Jay Bhullar and encompasses 143,922 square feet of retail and office space.
With over 125 years since its construction, the Colman Building holds significant historical value as an iconic landmark in Seattle’s Pioneer Square area. Its prime location at 811 1st Avenue makes it easily accessible via public transportation hubs and popular destinations such as the ferry terminal and Marion Street Pedestrian Bridge. Additionally,the recent revitalization of Seattle Waterfront has solidified its status as a sought-after property.
According to Miller: “Colman’s central position in downtown Seattle coupled with its rich history made it an exceptional opportunity for acquisition.” This sentiment is reflected by strong interest from both local buyers as well as those outside the market.
Boasting a diverse mix of tenants ranging from small boutique businesses to large national corporations,the Colman Building presents immense potential for growth under new ownership who plan to revitalize street-level retail spaces.
