Seattle Tower Leased to Amazon Hits Market
A MetLife Real Estate Investors partnership is marketing a new Seattle office building that’s fully leased by Amazon.com.
The 373,000-square-foot property, at 1007 Stewart Street in the South Lake District, could attract bids of about $950/sf, or almost $355 million. CBRE is advising MetLife and its partner, Trammell Crow of Dallas.
The 21-story building, dubbed Midtown 21, was completed last year. Amazon, which signed a long-term lease, is in the process of moving in. The online retailer occupies 8 million sf in Seattle — or almost 20% of the city’s total office space.
The property includes some 380 parking spaces and a conference center. It’s within walking distance of the trendy South Lake retail district.
Another Seattle building fully leased by Amazon sold in January. A TriStar Capital partnership acquired the 291,000-square-foot Urban Union building, at 501 Fairview Avenue North, from developer Schnitzer West of Seattle for $268.7 million, or $924/sf. Newmark Grubb was the broker.