Skip to main content

Originally published December 18, 2012 at 5:59 PM | Page modified December 18, 2012 at 7:44 PM

  • Share:
  • Comments ((0))
  • Print

7th & Madison sold for $100 million

HAL Real Estate Investments of Seattle sold the 9-story building for three times what it paid two years ago.

Seattle Times business reporter

No comments have been posted to this article.


HAL Real Estate Investments of Seattle sold its 7th & Madison building Tuesday for $100 million -- three times what it paid for the 9-story building two years ago.

Public records identify the buyer as an affiliate of Prudential Real Estate Investors, the real-estate arm of the insurance giant.

The sale is another sign of institutional investors’ growing interest in Seattle, and represents a big turnaround for the once-troubled downtown project, highly visible from Interstate 5.

Developer Opus Northwest completed the 205,000-square-foot office building in early 2009, but couldn’t find a tenant and eventually turned it back to construction lenders led by U.S. Bank to avoid foreclosure.

HAL bought 7th & Madison for $30.75 million in November 2010, at the same time announcing a deal to convert it to medical use and lease all the space to the Polyclinic, a multi-specialty medical clinic based on First Hill.

Tuesday’s sale is the 11th real-estate transaction in King County so far this year of $100 million or more.

Prudential, the building’s new owner, recently sold West 8th, a 28-story office tower in the Denny Triangle.

Eric Pryne: or 206-464-2231

News where, when and how you want it

Email Icon

Relive the magic

Relive the magic

Shop for unique souvenirs highlighting great sports moments in Seattle history.



NDN Video