Another in Amazon’s seemingly endless roster of office buildings in Seattle has sold for a big price.
This one is called Amazon Phase VII, and it just sold for a cool $244 million. A pair of New York-based firms, Tristar Capital and RFR Holding, bought the 318,700-square-foot structure in Seattle’s South Lake Union neighborhood from the developer, Paul Allen’s Vulcan Real Estate.
Designed by NBBJ and built by Turner Construction, the 12-story structure at 400 Ninth Ave. N. is LEED Gold certified. For those who can’t tell one Amazon building from another, this is the one with Sam’s Tavern in the ground floor.
Amazon has gotten attention for some of its design statements at its Seattle headquarters — specifically the triumvirate of orbs at its newest office tower — and this building has its own signature feature. A public art piece by local artist Dan Corson titled Nebulous suspended above a public plaza is “evocative of the changing environmental and technological climate of Seattle and the world,” according to a Vulcan press release.
Investors from around the world have been jockeying to get their hands on Amazon buildings in Seattle. But Amazon took a big chunk of them off the market back in 2012, when the company purchased its own 11-building headquarters from Vulcan for $1.16 billion.
Those buildings were supposed to last Amazon for years, but the company grew so fast that it needed more space. Vulcan built several more structures for the online retail giant in the neighborhood, and those quickly sold as well. In late 2015, Vulcan sold Amazon Phase VI, a pair of buildings totaling 380,000 square feet of office space, for $299 million to German real estate fund manager Union Investment. Then over the summer, Vulcan sold Amazon Phase VIII, a 12-story 317,000-square-foot building, to a Korean investment manager called Mirae Asset Global Investments for $246.8 million.