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SEATTLE-Madison Marquette is negotiating the sale of 601 PineSt., a 69,000-sf Downtown retail building on a 15,000-sf lot thatis fully leased to Old Navy, Gene Juarez and Fox Sports Grill.David Brainerd, senior vice president for Madison Marquette'sparent company, Capital Guidance, tells GlobeSt.com that best andfinal offers were due recently and negotiations now are under waywith a single buyer.The owner of 601 Pine is listed in countyrecords as various members of the Marshall family of Olympia. Thename of the buyer is being held close to the vest until thetransaction is in escrow, as is the price. However, a third-partysource familiar with the property tells GlobeSt.com that thebuilding should sell for around $26 million. King County appraisesthe property (land and improvements) at about $17.5 million.Builtin 1929, 601 Pine St. was previously home to the I. Magnindepartment store. Old Navy opened its 38,000-sf store in thebuilding in 1998. Gene Juarez came along shortly thereafter. Theproperty went on the market shortly after Fox Sports Grill leasedthe remainder of the building in 2003.East of Downtown on CapitolHill, Madison Marquette recently completed and opened its makeoverof the 110,000-sf Broadway Market. As part of the transformation,Kroger shut down the 31,000-sf Fred Meyer in the two-level urbancenter, leased an additional 32,000 sf--including some reclaimedcommon area--in the building and moved its QFC into the space froma 22,000-sf location next door. Existing tenants Urban Outfittersand Hot Topic were relocated within the center to make room. Otherretailers in the center include Broadway Video, Gold's Gym andTorero's Mexican Restaurant. The center, which is about 98% leased,also is home to 30 apartments and subterranean parking for 230vehicles.