CAPITOL HILL’S BOOKER BUILDING SOLD FOR $5 MILLION
JUNE 6, 2022 | PRESS RELEASE
The 9,355 Square-Foot Building Houses Six Retail Tenants and is Two Blocks from the Downtown Seattle Business Corridor
Commercial real estate brokerage CPX today announced the sale of the Booker Building, in Seattle’s Capitol Hill neighborhood.
The 9,355 square-foot, one-level commercial project was originally constructed in 1912 and houses five retail tenants. It’s located two blocks from Seattle’s central business corridor.
The building sold for $5 million and closed on June 6.
“Adjacent to Melrose Market, the Booker Building is most notably home to Ristorante Machiavelli and just up Pine Street from the new Washington State Convention Center,” CPX Managing Partner Sean Tufts said. “We are excited to see what the new ownership will do to improve the property over the next few years.”
Tufts, along with Real Retail Partner Andrew Miller, represented the buyer, Prado Group. This transaction represents Prado Group’s first purchase in the Seattle area. The seller, Gay Dunham Family Limited Partnership III, was represented by Brian Platt and Michael Urquhart of Paragon Real Estate Advisors, Seattle.
“This is the 50-yard line for retail in Capitol Hill,” Miller said. “A great asset for Prado’s entry into the Seattle market.”
CPX helps investors gain the confidence to make the right deals at the right time by living an ethos the company describes as combining “relentless preparation” with an “open concept brokerage.” Relentless preparation is about doing the homework, becoming a student of the marketplace, and dedicating time – sometimes measured in years – to establish trust and confidence with potential clients. An open concept brokerage multiplies each broker’s individual relationships, knowledge, and experience by working together as one aligned team. This far-sighted and collaborative approach builds valued relationships by providing clients strategic, sage counsel.
CPX is a privately-owned Pacific Northwest-based commercial, multifamily, and manufactured housing investment real estate brokerage with more than three decades of experience. Based out of Seattle and Portland, the CPX business model is built on the principle of an open concept brokerage that encourages a collaborative mindset and the sharing of information and expertise. Leveraging technology and exceptional client relationships, the team is relentlessly prepared to provide the best outcome for their clients. For more information, visit cpxone.com
About Prado Group
Prado Group is a privately held real estate development and investment management company with a primary focus on residential, retail, office, and mixed-use properties. The company seeks in-fill, supply-constrained, innovation markets with high barriers to entry primarily in the Western Region. Prado Group's goal is Positive Evolution: to enhance the communities we work in by creating high-quality, sustainable environments for people to live, work, shop, and relax. In each of our projects, our team seeks to create quality environments that will serve and inspire future generations. Prado Group pursues asset strategies that create sustainable value through asset management, development, repositioning, and property enhancement. For more, visit PradoGroup.com.
Adjacent to Melrose Market, the Booker Building is most notably home to Ristorante Machiavelli and just up Pine Street from the new Washington State Convention Center