Two office buildings located at 1000 and 1100 Dexter Ave. in Seattle’s South Lake Union submarket have been purchased by Palisade Group and Sabal Investment Holdings for $47.5 million. The sale price amounts to $213 per square foot for the total 223,333 square feet of space acquired.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $47,500,000
• Buyer: Stephen Kirch - Palisade Group & Pat Jackson - Sabal Investment Holdings
• Seller: SBC & Stockbridge
• Brokers: Kevin Shannon, Liam Ogburn, Nicholas Kucha, Rachel Jones & Michael Moll - Newmark
• Address: 1000 & 1100 Dexter Avenue North, Seattle, WA
• Market: Seattle, WA

The acquisition of the two office buildings was facilitated through the representation of brokers Kevin Shannon, Liam Ogburn, Nicholas Kucha, Rachel Jones, and Michael Moll from Newmark. Palisade Group and Sabal Investment Holdings successfully closed the deal at a rate of $213 per square foot, solidifying their presence in the South Lake Union submarket of Seattle.