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Originally published Friday, July 16, 2010 at 10:13 AM

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Small historic building downtown is sold

A historic downtown office building, the 81-year-old A.E. Doyle Building, was sold this week to a Seattle real-estate investment company.

By Seattle Times business staff

A historic downtown Seattle office building was sold this week to a Seattle real-estate investment company.

The new owner, Gibraltar, bought the 81-year-old A.E. Doyle Building at Second Avenue and Pine Street for $5.6 million, according to county records. The previous owner, retirement-community developer Era Living, paid $7.35 million for the building in 2006.

The four-story Doyle Building is a protected historic landmark, and Gibraltar President John Slonecker said his firm plans some upgrades, but no exterior changes. "It's a building that should stay the way it is," he said.

The office space is about 70 percent leased, he said. Credit union BECU is the primary street-level retail tenant.

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