Transactions - JUNE 21, 2017

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Kilroy Realty begins $370m Seattle project

by Andrea Waitrovich

Kilroy Realty Corp. has begun construction of its $370 million, two-building mixed-use project at 333 Dexter Ave. in Seattle’s South Lake Union neighborhood.

The building occupies a full city block between Thomas Street and Harrison Street. It will include 15,000 square feet of retail space, 582,000 square feet of office space, 10,800 square feet of space to be used for a courtyard, and a five-level parking garage with 700 stalls.

333 Dexter is Kilroy Realty Corp.’s first ground-up development project in Seattle.

Kilroy Realty Corp. acquired the site in 2015 for $50 million. The acquisition included a full city block site, 333 Dexter Ave. North, along with three smaller adjacent parcels, which in total aggregate 2.4 acres.

333 Dexter is in close proximity to various global technology and life science innovators, including the Bill & Melinda Gates Foundation,, UW Medicine and Facebook.

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