Historic Medical Asset Near Amazon HQ Trades for $113M

The 300,000-square-foot office/medical building is located in Seattle’s central business district.

SEATTLE—Long known for providing healthcare access for many downtown employees, the historic Medical Dental Building was recently sold by Goodman Real Estate Inc. for $113 million to Menashe Properties Inc. The approximately 300,000-square-foot office/medical building is located in the central business district within Seattle’s key retail corridor, adjacent to Nordstrom’s flagship store and a five-minute walk from Amazon’s world headquarters campus.

The 18-story building was constructed in two phases in 1925 and 1950, renovated in 2008 and recently received more than $25 million in building upgrades, including new lobby finishes and the creation of a Wintergarden common area. The property includes a diverse roster of more than 130 professional tenants, primarily private medical/dental practices and office space. Bartell Drug Co., the country’s largest and oldest family owned pharmacy headquartered in Seattle, anchors the building with a 12,606-square-foot ground-floor retail store. Additional major tenants include Deltek Inc. and The Polyclinic.