Beacon Buying Seattle's Exchange Building

Beacon Capital Partners is in the midst of purchasing the historic Exchange Building in downtown Seattle with consultation from commercial real estate company Lorax Partners. According to a Puget Sound Business Journal article, representatives from Beacon and the owner, Langley Investment Properties of Portland, declined comment because the transaction had not yet closed, but Lorax's Brian Fyall was looking over the 22-story building at Second Avenue and Marion Street Tuesday.

While terms of the deal were not disclosed, it is known that the property previously sold for $80.6 in 2007 when The Ashforth Co. purchased the building. Two years ago, Ashforth’s West Coast affiliate, Ashforth Pacific, bought Ashforth’s assets and created Langley Investment Properties.

The Exchange Building at 821 Second Avenue is a 22-story art deco office building located in the central business district of Seattle, Washington. It was designed by John Graham & Associates and completed in 1930. The building boasts 299,000 square feet of space, and large blocks of space are available for lease, according to officespace.com.

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