The historic Colman Building in downtown Seattle has been sold through a receivership process. Kidder Mathews’ Darren Tappen, Andy Miller, Pete Beauchamp, and Nathan Thinnes represented John A. Rothschild of Newmark, the court-appointed receiver, in facilitating the sale. The buyer, Jay Bhullar, acquired the 143,922-square-foot retail and office property.
Constructed more than 125 years ago, the Colman Building is a cornerstone of Seattle’s Pioneer Square area, located at 811 1st Avenue near public transportation hubs and key destination points. Its proximity to the ferry terminal, the Marion Street Pedestrian Bridge, and the recently revitalized Seattle Waterfront has cemented its status as a landmark property.
“Colman’s prime location in downtown Seattle, combined with its unique history, offered a rare acquisition opportunity,” said Miller. “This was reflected in the strong interest from both local and out-of-market buyers.”
The Colman Building has a diverse tenant mix, ranging from boutique businesses to national companies. The buyer plans to reactivate its street-level retail spaces, which were vacated during the pandemic, and lease out vacant office suites across the building’s upper five floors.
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 19 offices across Washington, Oregon, California, Idaho, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages over $10 billion in transaction volume, manages more than 57 million square feet of space, and conducts 2,600 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
