Seattle moves to sell Mercer Mega Block to developer for $143.5M
Seattle is in negotiations with a developer to sell a string of properties in South Lake Union known as the Mercer Mega Block for $143.5 million, Mayor Jenny Durkan said Wednesday.
Alexandria Real Estate Equities, a firm known for developing life-science and technology campuses, submitted the leading offer for the property and has negotiated a memorandum of understanding for development of the property, officials said.
The 2.86-acre Mercer Mega Block consists of three parcels partly left over from the city’s reconfiguration of Mercer Street and has for years sat vacant as the city looked for a buyer. The land is steps away from Amazon’s headquarters in one of the nation’s hottest neighborhoods.
The much anticipated sale would be the highest-value sale of city property within Seattle, the mayor’s office said.
Read more: https://www.seattletimes.com/business/real-estate/seattle-moves-to-sell-mercer-mega-block-to-developer-for-record-breaking-143-5-million/