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

Property Image
SOLD
$49,000,000

Washington

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Life Sciences228,118 SF
Sold 02/04/2026
the dealdetailscomps
Property Image
SOLD

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

222 5th Avenue North

See Similar Deals
Life Sciences228,118 SF
Sold 02/04/2026
the dealdetailscomps

Summary

WASHINGTON
Asset Type:Life Sciences
Price Per Square Foot:$214
Total Square Footage:228,118 SF
Transaction Type:Sale

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

IC
Intercontinental Real Estate Corporation
SELLER

Details

SOLD
IMAGE: 02/04/2026 ADDRESS: 222 5th Avenue North MARKET: Seattle, WA ASSET TYPE: Life Sciences BUYER: 3Edgewood SELLER: Intercontinental Real Estate Corporation SALE PRICE: $49,000,000 SF: 228,118 ~ PPSF: $215 NOTE: Lincoln Property Co. and Intercontinental Real Estate sold a 228,118-square-foot Seattle life sciences building for $49M, less than one-third of its $171M tax-assessed value. The largely vacant property was bought by an entity linked to former Phoenix Suns owner Robert Sarver, who aims to capitalize on steeply discounted office prices.

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