Updated Feb 10, 2026
3Edgewood Acquires Life Sciences Building In Seattle From Intercontinental Real Estate For $49M
222 5th Avenue North
$49,000,000
$214/SF
Building Size
228,118 SF
Asset Type
Life Sciences
Closing
Feb 4, 2026
About this deal
AI
The property involved in this transaction is a life sciences building located at 222 5th Avenue North, Seattle, WA. The asset spans approximately 228,118 square feet and was sold for a total of $49,000,000, equating to a price per square foot of $215. This sale price is significantly below its tax-assessed value of $171,000,000.
Summary of transaction details:
- Property Type: Life Sciences
- Transaction Amount: $49,000,000
- Sale Date: 02/04/2026
- Address: 222 5th Avenue North
- Market: Seattle, WA
- Square Footage: 228,118
- Price Per Square Foot: $215
- Buyer: 3Edgewood
- Seller: Intercontinental Real Estate Corporation
The transaction includes representation by Lincoln Property Co. on behalf of Intercontinental Real Estate Corporation. The buyer, 3Edgewood, has ties to former Phoenix Suns owner Robert Sarver, who plans to leverage the currently discounted office prices with this acquisition.
Players
Seattle Life Sciences Market Snapshot
Boundary boundary · Life Sciences · Sale transactions
Loading comparables…
Deal FAQ
Browse Seattle life sciences sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93