homeWelcome, sign in or click here to subscribe.login
     


 

 

Real Estate


print  email to a friend  reprints add to mydjc  

September 26, 2017

Vulcan completes 5th & Lenora site by acquiring $4.6M parcel

By BRIAN MILLER
Journal staff reporter

Image by Ankrom Moisan Architects [enlarge]
Vulcan has now spent about $27.4 million buying land for a 44-story residential tower.

Through an LLC, Vulcan Real Estate has acquired the former Nara Grill property at 2025 Fifth Ave. for $4.6 million, according to King County records.

The seller was Fifth Avenue LLC, which acquired the property in 2008 for $856,600. Allen Hartung, Neil Radan and Steve Gray are members of that LLC. The property measures 3,240 square feet, and the deal was worth about $1,422 per square foot. Brokers, if any, were not announced.

Hartung previously told the DJC that he was talking with Vulcan, which last year spent $22.8 million to acquire three properties on both sides of the Nara Grill site. Those were owned by Diamond Parking and members of the Diamond family.

Vulcan has now spent about $27.4 million to acquire the 19,434-square-foot site at the southwest corner of Fifth and Lenora Street, where it plans to build a 44-story residential tower. The address is 2025 Fifth.

The structure will have 458 units, 300 underground parking spaces and 3,700 square feet of retail. Total project size is about a half-million square feet.

Vulcan has applied for a master use permit.

Vulcan's Fifth & Lenora team includes Ankrom Moisan Architects; PCL Construction, general contractor; Site Workshop, landscape architect; Coughlin Porter Lundeen, civil and structural engineer; Ecotope, mechanical and plumbing engineer; Rushing, electrical engineer; O'Brien & Co., sustainability consultant; RDH, building envelope; A3 Acoustics; and Fortune Shepler Saling, elevators.

In a deal recorded by the county on the same day, Fifth Avenue LLC bought two parcels at 1351-1359 E. Olive Way on Capitol Hill for almost $4.3 million. That two-story, retail-commercial-apartment property is just east of Melrose Avenue. Tenants include Pie Bar, John John's Game Room and Lustre Communications.

The seller was JBJ Olive Way LLC, which acquired the property in 2012 for almost $1.8 million. Brokers were not announced.


 


Brian Miller can be reached by email at brian.miller@djc.com or by phone at (206) 219-6517.




Email or user name:
Password:
 
Forgot password? Click here.