A partnership that in June paid the city of Seattle $46 million for the Dexter Horton Building has just begun marketing space in the building.

About 87,000 square feet will become available in the building next year, en route to as much as 325,000 sf as government employees leave the building over the next few years.

Some 51,000 sf of that will come onto the market next March, including the bank lobby and an overlooking mezzanine. After the release of smaller amounts of space in 2002 and 2004, more than 127,000 square feet in the Dexter Horton will hit the market in 2006, between March and September of that year.

Completed in 1924, Dexter Horton was purchased from the city by Goodman-Carlyle LLC, a partnership of the Carlyle Group and local investor John Goodman. The city bought the building in 1988 for about $20 million.

Annual lease rates will be $35/sf. CB Richard Ellis is marketing the space.

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