Bay Vista Office/Retail Space has a New Owner
The five stories of commercial space at the base of Bay Vista tower have a new owner. Madison Marquette, a District of Columbia-based company, purchased the space for $33.65 million, the Puget Sound Business Journal reported today.
Madison Marquette was founded in 1992 boasts retail and other commercial-type assets coming in at over twenty million square feet, according to the company’s website. In Seattle, the company is best known for being the owners of Pacific Place Shopping Center.
Bay Vista, one of Belltown’s original’s high-rises was built in 1982. Located at 2821 2nd Avenue and featuring 77 units, the building is known for its many amenities in addition to the fantastic location. Bay Vista residents can enjoy the indoor pool, a fitness center, around-the-clock concierge, a newer community room and a stunning outdoor terrace with a sport court and a garden.
The five floors purchased by Madison Marquette account for just under 120,000 square feet at the base of Bay Vista, with only about 1% of the space being vacant, according to the Puget Sound Business Journal. The long term tenants include Seattle Custom Framing, a dry cleaner and Puget Sound Federal Credit Union.
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