Merrill Place, Seattle, WA
Merrill Place, located in the heart of Pioneer Square, was renovated and converted into a high-tech office campus by Nitze-Stagen in 1998. The 200,000 square foot, brick and beam property occupies a full city block and is composed of four integrated buildings. The space features large floor-plates, expansive ceiling heights and a mix of historic and modern architectural elements.
At the time of purchase, the building was being vacated by its major office tenant, Adobe Systems. Following the acquisition, Nitze-Stagen, along with our Joint Venture Partner Angelo-Gordon of New York, successfully completed a modernization program, and fully re-leased the building. Merrill Place is ideally located in the heart of Seattle’s vibrant Pioneer Square neighborhood which has become a hub for media and creative companies. As well, the property has exceptional access to Metro bus routes and the Washington State Ferry System, as well as regional train and bus routes at King Street Station and is within a few blocks of the Seahawk Stadium and the Mariner’s Safeco Field.
Merrill Place is one of many successful redevelopment projects completed by Nitze-Stagen in Seattle, and shows the creativity and experience of the company. Nitze-Stagen and Angelo-Gordon sold the property at a substantial gain to Los Angeles based Hudson Pacific Properties in early 2014.