Jay Bhullar Purchases Seattle's Historic Colman Building From Unico Properties For $9.5M

The property asset involved in the transaction is an office building located at 811 1st Avenue in the Seattle, WA market. The asset has a sale price of $9,500,000, encompasses 144,000 square feet, and was sold at a price per square foot of $66.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $9,500,000
• Buyer: Jay Bhullar
• Seller: Unico Properties
• Brokers: Andy Miller, Darren Tappen & Nathan Thinnes - Kidder Mathews
• Market: Seattle, WA
• Square Feet: 144,000
• Price per Square Foot: $66

Jay Bhullar, through his LLC, acquired the historic Colman Building, previously valued at $37M in 2019, in a receiver sale. The intent is to lease the vacant retail and office spaces, focusing on revitalizing the landmark property that has faced challenges with tenant losses since the pandemic.