Beacon Capital Partners, a Boston-based real estate investment company, is the reported buyer of the 911 Western Avenue building in Seattle for $13.1 million.
The five-story waterfront Maritime Building is likely an attractive investment due to the planned $1 billion re-development of Seattle’s waterfront, which is planned to include the removal of the Alaskan Way Viaduct and a development of a new promenade along the shore.
Beacon Capital has not commented on their plans for the 100-year old building, but the current zoning permits would allow for a 160-foot-tall mixed-use commercial development.
Maritime Corp. was the reported seller of the property.
