KKR and Urban Renaissance Group acquire 300 Pine in Seattle

Urban Renaissance Group and KKR have acquired 300 Pine St., a mixed-use building in downtown Seattle. The sales price was not disclosed; however, it is reported to be $580 million, according to Bloomberg, sourcing a person with knowledge of the deal.

Located on a full city block between Third and Fourth avenues in the heart of Seattle’s retail core, the 770,000-square-foot, eight-story mixed-use building with a historic façade will feature 85,000 square feet of renovated ground-floor retail designed to accommodate retail flagship stores, along with a new Fourth Avenue entrance to access the 682,000 square feet of commercial office space currently fully leased to a single tenant. The office portion will feature 80,000 square feet of floorplates, seismic retrofitting and more than 20 skylights, including two light wells providing additional light for the top two floors.

Originally home to Seattle’s Bon Marché department store, the Art Deco–style building was cons