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700 Broadway Sells

700 Broadway Sells
700 Broadway on Capitol Hill.
This week brings news that Security Properties has expanded its portfolio to include 700 Broadway on Capitol Hill, an apartment/retail building with 59 units and 10,673 SF of retail. Security Properties, which paid $20.2M for the building, also spent $30M for an apartment complex in Newcastle last month. The company is not moving forward with a once-planned 40-story apartment tower on Ninth Avenue and Pine Street, however. Fortunately for those who were counting on having such easy access to Nordstrom's flagship store, Holland Properties bought the 0.32 acre site last Friday and will complete the project. Holland paid $10.5M for the honor; Security initially bought the property for $8.6M in 2007.
Related Topics: Security Properties