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222 5th Avenue North

Updated Feb 10, 2026

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

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

3Edgewood
3EdgewoodBuyer

Seattle Life Sciences Market Snapshot

Boundary boundary · Life Sciences · Sale transactions

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Deal FAQ

About $214 per square foot on a published $49M for 228,118 square feet (2026).

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

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