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Real Estate

Marc Stiles
Real Estate Editor
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October 14, 2010

Real Estate Buzz: Sabey wanted Fed building, but not now

Real Estate Editor

The rumor was true that Sabey Corp. was the buyer of the Federal Reserve's former downtown Seattle branch.

The Tukwila-based development company entered into a deal with the Federal Reserve Bank to buy the half-block property at 1015 Second Ave., according to a copy of the agreement. But Sabey officials may be thanking their lucky stars that the deal, signed a few months before everything tanked in 2008, was spiked after a group of historic preservationists successfully sued to stop it.

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