Property near new Expedia campus sells for $8.5M
Seattle Daily Journal of Commerce | By Brian Miller
An industrial property at 1111 Elliott Ave. W. has sold for $8.5 million, according to King County records. The seller was an LLC related to the Eland family, which had owned the property for decades.
The buyer was an opaque entity called Pacific Opportunity Fund I LLC, which in 2017 paid $7.5 million for the neighboring Blackstock lumber yard to the south, at 1039 Elliott.
The former Blackstock property is south of the pedestrian bridge across the railroad tracks to Expedia’s new planned headquarters. It’s being redeveloped as a private “Interbay Transit Hub.” In response to a past query about that project, Expedia didn’t confirm or deny it was the owner.
For last Friday’s sale of the Eland property north of the bridge, the seller was represented by Scott Clements and David Butler of ORION Commercial Partners. The off-market deal was worth about $357 per square foot for the land.
No recent plans have been filed there.
The 26,300-square-foot corner property is on the west side of Elliott, at the dead-end of West Prospect Street. Its two old warehouse buildings, now leased to Blue Sky Cleaners, have about 23,800 square feet.
The property, unlike many in Interbay, isn’t listed on the state Department of Ecology list of polluted sites.
In October, Expedia will begin a phased move from Bellevue for about 4,500 workers to the 40-acre renovated former Amgen-Immunex campus. The old Helix pedestrian bridge is open to the
Read Original Article: https://www.djc.com/news/re/12124578.html