The Seattle Times Company

NWjobs | NWautos | NWhomes | NWsource | Free Classifieds |

Business / Technology

Our network sites | Advanced

Originally published May 11, 2010 at 11:30 AM | Page modified May 11, 2010 at 11:33 AM

Comments (0)     E-mail E-mail article      Print Print      Share Share

Historic building near Qwest Field sells for $14.5 million

Reedo Building was damaged in Nisqually earthquake in 2001.

Seattle Times business reporter

A historic building near Qwest Field was sold Monday by Seattle developer Urban Visions to a Canadian partnership for $14.5 million, according to county records.

Urban Visions acquired the four-story Reedo Building at 542 1st Ave. S. in 2002 for $700,000 and renovated it. The 1904 building, which also fronts Occidental Avenue South, had been damaged extensively by the Nisqually earthquake in 2001.

"It was a good time for us to sell," said Greg Smith, Urban Visions principal. "Now we've got a nice war chest to go out and look for new opportunities."

Starbucks leases most of the office space in the 54,000-square-foot building, but has moved out and subleased its floors to other companies, Smith said.

Elysian Brewing leases the ground floor.

The building's new owner is a limited partnership associated with Nicola-Crosby Real Estate Investments of Vancouver, B.C.

Eric Pryne: 206-464-2231 or

E-mail E-mail article      Print Print      Share Share

More Business & Technology

UPDATE - 09:46 AM
Exxon Mobil wins ruling in Alaska oil spill case

UPDATE - 09:32 AM
Bank stocks push indexes higher; oil prices dip

UPDATE - 08:04 AM
Ford CEO Mulally gets $56.5M in stock award

UPDATE - 07:54 AM
Underwater mortgages rise as home prices fall

NEW - 09:43 AM
Warner Bros. to offer movie rentals on Facebook

More Business & Technology headlines...

No comments have been posted to this article.


Get home delivery today!



AP Video

Entertainment | Top Video | World | Offbeat Video | Sci-Tech