By Meghan Hall
Outdoor clothing retail Filson—which has a storied history in Seattle—has seen its headquarters and flagship store traded to a new owner. In a transaction that closed on January 21st, the SoDo property was sold for $21 million by a private investment group. The buyer is an entity called 1741 1st SODO LLC, which is affiliated with Bryan Syrdal and Chris Aggerholm, according to public records filed with King County and a statement by the acquisition team.
The asset is located at 1741 First Ave. S. The asset is developed with a 54,000 square foot office and retail building, which was originally constructed in 1921. The property is leased on a long-term basis to Filson, which uses the asset not just as its corporate headquarters and retail store, but for product design and manufacturing. Just minutes south of downtown Seattle and Pioneer Square, the property is also within proximity of State Route 99, Interstate 5 and Seattle’s Light Rail network. Terminal 30, as well as Lumen Field and T-Mobile Park, are within walking distance.
Lou Senini, Tom Pehl and Chais Lowell of CBRE’s Pacific Northwest Capital Markets Team brokered the deal.
Filson was originally established in 1897 and opened its doors as C.C. Filson’s Pioneer Alaska Clothing and Blanket Manufacturers. Its products at the time were designed to serve those who were flooding into the region as a result of the Klondike Gold Rush. As the Gold Rush era closed, Filson expanded his business to outfit loggers and quickly grew in his reputation to provide reliable clothing for outdoorsmen.
The asset last sold in October of 2012 for $7.5 million, when it was bought out of foreclosure.