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10/03/18
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The Broderick Building and MiKen Building, two historic Seattle office buildings totaling 86.3k sf, have sold for $35.05 mil ($406/sf). The buyer was Brickman Real Estate, a New York-based real estate investor and operator with a current office portfolio of 2.3 msf in eight markets across the United States.
The Broderick Building, located at 615 Second Ave in the heart of Pioneer Square, is a seven-story office building totaling 69.5k sf. It was built in 1900. The MiKen Building, located at 1417 Fourth Avenue in downtown Seattle, is an eight-story, 46.9k sf office and retail building. It was built in 1908 and renovated in 1999.
Andy Miller and Dave Speers with Kidder Mathews represented Brickman Real Estate in the transaction. The properties were sold by MDC Realty Advisors, a private commercial real estate company that focuses on commercial real estate in both the United States and Canada, including retail, office, industrial, multifamily, and mixed-use projects. MDC and its affiliates currently manage approximately $2.8 bil in assets under management and 12 msf of commercial real estate in Canada and the United States.
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