Seattle office tower across the street from Amazon sells for $12.5 million after a $97 million valuation in 2019
Why this matters
Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. Seattle absorption has been weighed down by tech tenant footprint optimization. Multifamily and industrial have been more resilient, with selective bids on best-located product. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 29th Seattle story tracked on the wire in September 2026. All Seattle coverage →
- Disclosed office deal value tracked in September 2026: $14.7B across 78 reported transactions. All Office coverage →
Computed from Real Estate Trail’s own tracked coverage
External link. Real Estate Trail does not republish source content.
Related coverage — Seattle · Office
Tourbineau Real Estate Partners Pays $4MM for Half-Acre Next to 2121 S. El Camino Real, Pushing San Mateo Conversion Toward 500 Units
Seattle-based Tourbineau Real Estate Partners has paid $4 million for a half-acre parcel beside the 12-story Tower Plaza office tower it is converting to apartments in San Mateo, adding capacity for roughly 350 more h…
Simon to buy prominent Seattle shopping center
Columbia Pacific Advisors Receives $130M Refinancing for Murano Senior Living Property in Seattle
SEATTLE — Columbia Pacific Advisors has received a $130 million loan for the refinancing of Murano Senior Living, a seniors housing community located in Seattle. The borrower developed the property, which opened in 20…
Redfin Reports Monthly Mortgage Payments Fall to Lowest Level in 6 Weeks as Home Prices Keep Dipping
Pending home sales held steady from a week earlier as prices and mortgage rates fell–but rates have since ticked back up SEATTLE, Nov. 12, 2026 /PRNewswire/ -- U.S. home-sale prices fell for the fourth week in a row,…
Zillow Group to present at UBS Global Technology and AI Conference 2026
SEATTLE, Nov. 11, 2026 /PRNewswire/ -- Zillow Group, Inc. (Nasdaq: Z and ZG), which is transforming the way people buy, sell, rent and finance homes, today announced Zillow Group will present at this year's UBS Global…
Goodman Capital Leads $31M Condo Inventory Loan on Seattle-Area Resi Tower
Create World Real Estate has nabbed $30.6 million of condominium inventory financing for luxury residential tower east of Seattle, Commercial Observer has learned. Goodman Capital supplied a $25.625 million senior loa…