The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 15, 2024
 Search RENTV
 The REview
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

ETC... ETC...
Printer-friendly Version   Email an Associate
Rubicon Point Partners Buys Historic Mason Block in Seattle’s Pioneer Square Submarket


Rubicon Point Partners acquired Masin Block in downtown Seattle’s Pioneer Square submarket. The $24.1 mil purchase from Alexandria Real Estate was made through Rubicon First Ascent LP, a fund with $232 mil of assets and the ability to acquire up to $770 mil of property investments.

The Mason Block property encompases a roughly triangular block bounded by South Washington St, Second Avenue Extension South, and South Main St. Containing creative office and retail space, the property is comprised of four, historic interconnected structures totaling 88.7k sf and that were originally built between 1899 and 1905.

The property sellers fully rebuilt and seismically upgraded two of the structures, the Masin and Furiya-Corgiat Buildings, after the Nisqually Earthquake in 2003 and also a third property, the Pacific Commercial Building, was fully redeveloped and seismically upgraded in 2010.The last structure is the Apex Building.

“The history, architecture, and recent renovation that strategically enhanced the sustainability of the properties are integral qualities and characteristics to us as owners,” said Ani Vartanian, Rubicon’s co-managing partner. “The proximity to the waterfront and entertainment in downtown Seattle is also a key ingredient to what we believe will attract new tenants.”

The Masin Block location benefits from Seattle’s $722 mil waterfront project which rerouted the former viaduct to a tunnel, allowing for the creation of a series of parks that will activate the waterfront area further, enlivening the pedestrian experience. The project is near Pioneer Square and the Stadium District, which is home to the Seattle Seahawks, Mariners and Sounders, creating strong opportunities for retail tenants. It is also proximate to Union Station Light Rail Stations, as well as King Street Station that provides commuter service to Tacoma and Amtrack Access north and south to Vancouver and Portland.

Return to the Archive page



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media