Seattle real estate is pricey this we know. It turns out in 2021 despite the COVID-19 pandemic, office sales remained incredibly lucrative. In fact, several Seattle office buildings are among the nation’s most expensive. Let’s check them out.
Real estate blog CommercialCafe looked at the top 50 office deals of 2021 including “all major transactions involving office buildings with at least 25,000 square feet, as well as mixed-use properties that were more than 50% office space.” In the end, four Seattle sales made the cut, with an eye-popping combined sales value of $1.8 billion.
Here are how the Seattle office buildings ranked and their sale prices.
#15: 300 Pine ($579,386,461)
#17: West 8th ($489,878,032)
#18: Safeco Plaza Office Tower ($465,000,000)
#49: The Alexandria Center ($254,800,000)
The most expensive building to sell in Seattle and #15 on the list is what many locals know as the Macy’s building. While no longer a department store it is one of Westlake’s most iconic buildings, known for the Macy’s star that lights up every Christmas.
All in all, the report saw an overall trend towards “warehousing solutions and data centers” as well as “a sustained move toward life sciences real estate in the office market.” So it looks like things aren’t slowing down anytime soon for the Seattle real estate sector.