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June 1, 2015

Beacon pays $13M for Maritime Building

By JOURNAL STAFF

Photo by Ben Minnick [enlarge]

An entity related to Boston-based Beacon Capital Partners paid $13.1 million for the Maritime Building, a five-story office building at 911 Western Ave., property records show.

The seller is listed in public records as Maritime Corp.

Records show the building has 140,000 net square feet, and it sold for about $94 per net square foot.

Andy Wattula, senior vice president at Beacon, said in a statement: “We are honored to own and invest in the Maritime Building. This addition to our Seattle portfolio highlights our commitment to this vibrant market. The Maritime Building in particular, given its prominent location, will complement the neighboring renovation projects for the Seattle waterfront, Viaduct and Pike Place Market. We look forward to working with the community and playing a role in the continuing revitalization of the waterfront.”

Beacon is one of several companies to buy property along the waterfront in anticipation of the more than $1 billion redevelopment of the area between Bell Street and the stadiums.




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