Onni Real Estate LLC acquired 2.5 acres of land in Downtown Seattle’s South Lake Union area for $33.5 million, or about $13.4 million per acre, from Seattle Times Company.
At the corner of Denny Way and Fairview Ave., the land is zoned for residential, retail and office use. While the future plans for the current parking lot are unknown, the buyer has established themselves as a commercial real estate developer specializing in high-rise properties.
Steven Wood, Campbell Mathewson, Katherine Laird, and Michael Finch of Century Pacific LP represented the seller.
Please see CoStar COMPS #2804005 for more information on this transaction.