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3/05/26
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Downtown Seattle’s historic Terminal Sales office building has been refinanced with a new loan for $10.2 mil. The property is located downtown at 1932 1st Ave, adjacent to the world-famous Pike Place Market, nearby restaurant and hospitality options and accessible mass transit.
Originally delivered in 1925, the 11-story, 92.4k sf, Class A building was renovated to serve as modern creative office space and includes street-level retail. Strong occupancy at the multi-tenant property includes a staggered lease roll of professional service, design and retail tenants thriving at a highly creative urban office address.
Gantry’s Mike Wood, Principal, and Tim Brown, Senior Associate, with the firm’s Seattle production office represented the borrower, a private real estate investor. The 10-year, fixed rate, non-recourse loan was funded through an insurance company correspondent lender with 25-year amortization. Gantry will service the loan for the lender.
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