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  Real Estate

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February 7, 2018

Macy's garage ground lease sold to LA group for $57.7M

Journal Staff Reporter

Photo by Brian Miller [enlarge]
The nine-story structure was developed in 1959, with about 844 parking stalls, and 29,000 square feet of ground-floor retail.

Benaroya Capital has sold the ground lease for the Macy's garage at 1601 Third Ave. to CIM Group of Los Angeles for $57.7 million. Both parties used LLCs in the transaction, which King County recorded on Monday.

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