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December 31, 2014

Waterfront site acquired for $12M

Daily Journal of Commerce

Journal Staff

SEATTLE - An entity related to Portland-based Gerding Edlen paid $12 million for about half an acre of land at 316 Alaskan Way S. where it is planning an 11-story residential tower with 200 units.

Project records show the new building will have 6,500 square feet of retail space and 78 underground parking spaces.

The seller is a limited liability company managed by Jon Burke, Dawne Burke-Soper, Ann Burke, Mark Burke and Deborah Batteiger. The sale price equates to about $578 per square foot.

A joint venture between Seattle-based architecture firm Weber Thompson and Portland-based GBD Architects is designing the tower, and Lease Crutcher Lewis is the general contractor. Other team members are KPFF Consulting Engineers, Rushing Co. and Morrison Hershfield.

Jim Klinger and Ross Klinger of Kidder Mathews represented Gerding Edlen in the transaction.

According to property records, the site is home to a parking garage that will be demolished for the project.

© 2014 Seattle Daily Journal of Commerce. All rights reserved.

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