3Edgewood Acquires Life Sciences Building In Seattle From Intercontinental Real Estate For $49M

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.