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November 16, 2017

Lumen space sells for $17.8M

Seattle Daily Journal of Commerce

SEATTLE - A commercial portion of the Lumen condominium, at 500 Mercer St., has sold for $17.75 million, according to King County records.

The seller was 500 Mercer Partners LLC, which is associated with Lumen's original developers, including general contractor Exxel Pacific.

The buyer was K&L LLC, which is associated with a residential address on Mercer Island.

Becky Lee of Realogics Sotheby's International Realty represented the buyer. Mike King, Erik Swanson, Jason Miller and Damian Sevilla of Kidder Mathews represented the sellers. The KM listing says the 32,370-square-foot space is now fully leased by Atlas Workbase, which last month announced an expansion there.

QFC occupies a separate commercial unit. There are 93 residential units above.

Located on the northeast corner of Mercer and Fifth Avenue North, the Lumen was developed in 2006 by Alan Winningham and Landstar Real Estate LLC. Hewitt was the architect.

Owing to the great recession, residential sales at the Lumen were slow, and several units were sold in an auction. However, the growth of Amazon in South Lake Union, and the Gates Foundation across the street, has revived the Lumen's fortunes.

For the full story, go to Seattle Daily Journal of Commerce.

©Copyright 2017 Seattle Daily Journal of Commerce

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