News
SPEAKING OF THE DENNY TRIANGLE...
March 1, 2012
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| The Seattle Times recently made it known that it put its final two parcels of downtown property on the market, and we chatted with seller's broker Steven Wood of Century Pacific, who with Campbell Mathewson has been representing the Blethen family. Steven told us that the Blethen family's decision to market the property didn't have anything to do with Amazon's recent acquisition of three blocks nearby; rather, the first family of Seattle newspapers has chosen to capitalize on owning one of the only tracts of land in Seattle reputed to be worth more now than it was in mid-00s. (The only other thing worth more now are full collections of beanie babies.) "This is an extraordinary time," Steven tells us. The two parcels are being marketed for $80M total. Times spokeswoman Jill Mackie indicated to us that potential suitors are already lining up: "As you can imagine, two full blocks in South Lake Union has generated a lot of interest." The company did attempt to secure a ground lease for the blocks, which turned out not to be feasible in the present market. |
