Vance And Sterling Buildings Sell For $43.3M
The Vance and Sterling buildings, 1402 Third Ave., in downtown Seattle were recently purchased for $43.3M by a joint venture between Brickman Fund VII L.P. and GreenOak.
HFF represented the seller, Jonathan Rose Cos., and procured the buyer. HFF also secured $35.5M in financing for the property.
The buildings, totaling nearly 131K SF, are near the Pike-Pine retail corridor and the Rainier Square Tower redevelopment project, and are within walking distance of the waterfront development project.
The Vance Building is a 14-story tower built in 1929. The Sterling Building was built in 1910 and has three stories of office and retail space. The LEED EB Gold certified project has been recognized by the Urban Land Institute, the American Institute of Architects, the National Trust for Historic Preservation and the city of Seattle as a model of green office retrofits.
