Another Amazon building has sold for big bucks.
This time around it’s a building called Midtown21. Amazon announced its lease of the building in November, and now seven months later it has sold to German firm Union Investment for $330.2 million, property records show.
The sale was first spotted by the Puget Sound Business Journal, and it is the biggest office deal so far this year. The sellers of the 21-story, 365,000-square-foot structure are developer Trammell Crow Co. and its partner MetLife.
This isn’t Union Investment’s first big buy in Seattle, nor is it the first Amazon building it has scooped up. In late 2015, Paul Allen’s Vulcan Real Estate sold Amazon Phase VI, a pair of buildings totaling 380,000 square feet of office space, for $299 million to Union Investment.
Tech office buildings are in high demand, and many of them are selling to foreign investors. Several other Amazon-occupied buildings have changed hands over the last year. Just last month, Dexter Station, home to Facebook’s new Frank Gehry-designed office sold for $286 million.