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Alexandria Real Estate Equities Purchases South Lake Union Parcel For $33.5M

Alexandria Real Estate Equities recently purchased this land for $33.5M.

Alexandria Real Estate Equities purchased the 27K SF parcel at 701 Dexter Ave. N. in South Lake Union for $33.5M. The site provides the opportunity to develop approximately 217K SF of commercial space. There is currently a building on the site.

JLL Managing Director Lori Hill led the JLL team on the sale on behalf of Unico Properties LLC.

Alexandria has not announced plans for the new building. The company recently leased 106K SF of its Seattle Light Lake Union Steam Plant building to Fred Hutchinson. It is also leasing space to Juno Therapeutics in its 400 Dexter Ave. N. building.