1:22 PM: Exactly two months after we reported on the potential sale of the Admiral District site where PCC Natural Markets-West Seattle (WSB sponsor) has long been located, the sale has closed.
(WSB photo from March)
The buyer, as suggested by the documents we found in city files in March, is Madison Development Group, whose project Spruce (apartments and gym) just opened on the east edge of The Junction, three years after they completed Element 42 (also mixed-use) in The Admiral District. The purchase completion was confirmed today in this statement from a spokesperson for Madison:
Madison Development Group purchased the property located at 2741 California Ave SW on May 21, 2015 from its previous ownership, Development Services of America – a wholly-owned subsidiary of Services Group of America. We’re excited about this opportunity to expand our presence in West Seattle … We’ll begin exploring possible ideas for the site and don’t have immediate plans for any redevelopment.
The statement didn’t mention the price, but it’s shown on the county website as $5,750,000. The spokesperson confirmed that the purchase includes the parking lot, which is shown in county records as covering 29,000 square feet, while the store is 17,000 sf.
We have a request out to PCC for comment; no reply yet, but PCC CEO Cate Hardy (a West Seattle resident) had told us at the time of our March report that the store’s lease runs “through most of this decade” and that they had expected at the time to be introduced to and start talking with the site’s new ownership. It’s zoned NC2-40, which allows for mixed-use (residential/commercial) development with a four-story height maximum.
3:22 PM: A spokesperson for PCC says they have nothing more to say right now beyond what they told us in March.
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