The nation’s largest developer of biotech real estate last week paid $47.6 million for an office building Amazon leases in South Lake Union, King County records show. Alexandria Real Estate Equities Inc. (NYSE: ARE) purchased the building at 428 Westlake Ave. N. from Karigo LLC, which bought the property for $81.5 million in 2017. The latest sales price represents a nearly 42% decrease.
Joel Marcus, Alexandria’s executive chairman, declined to comment, as did officials of Karigo, a Delaware-registered company linked to Commonwealth Holding, a privately-held real estate management and investment firm based in Brookline, Massachusetts. The six-story building contains 79,000 square feet of office space and 7,300 square feet of retail. Street-level tenants include a dentist office, KeyBank branch and The Berliner Doner Kebab.