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Real Estate

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September 7, 2000

Opus gets top dollar for Union Station buildings

Journal Real Estate Editor

Union Station Map
   1. Selig Office Suite
   2. Union Station Great Hall
   3. Paul Allen's 505 Union Station
   4. Opus Center West
   5. Opus Center East
   6. Opus Center South
Two of Opus Northwest’s Amazon.com-occupied Union Station buildings have sold -- at a price of $266 per square foot.

Commercial real estate observers waited for the past year to see whether Opus would have to settle for a discounted price because a speculative, money-losing dot-com company would serve as the buildings’ main source of revenue. The long-awaited deal thus became a bellwether for how the pool of large office project buyers value dot-com tenants, which increasingly drive the Seattle-area office market.

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