Kilroy Realty Corp. has completed the acquisition of a 1.37-acre, five parcel land site in Seattle’s central business district for a purchase price of $133 million.
Currently home to a 31,000-square-foot building fully leased to Bank of America, the historic 47,000-square-foot, 10-story Lloyd Building, three surface parking lots and a parking structure, the site is just blocks from Amazon’s main corporate headquarters, the iconic Pike Place Market and Seattle’s retail core anchored by the newly renovated Pacific Place. The specific parcel addresses are 500 and 600 Olive Way, 601 Stewart Street, 1825 7th Avenue and 1818 6th Avenue.
The company plans to seek entitlements to develop a state-of-the-art mixed-use project consisting of approximately 900,000 square feet of office, including the full restoration of the Lloyd Building, and approximately 25,000 square feet of street-level food and beverage retail as well as underground parking. The Lloyd Building is curren
