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May 22, 2024

Update: Half empty Pacific Place trades at huge loss

By BRIAN MILLER
Real Estate Editor

Photo by Michael Walmsley [enlarge]
The mall is about 45% occupied, per the new owner.

BH Properties announced Monday that it’s the new owner of Pacific Place, at 600 Pine St., but didn’t divulge the price. King County hadn’t yet recorded the deal before deadline Monday. Seller Madison Marquette acquired the mall and garage for $358 million in separate 2014 and 2016 purchases. It didn’t announce the recent sale; its broker was reportedly Eastdil Secured.


 
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