Seattle Times to Ditch 81-Year Headquarters for Rented Space

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For 81 years The Seattle Times has been headquartered at the sprawling, gray-pillared complex at Fairview Avenue North and John Street in South Lake Union. But by the end of this year, the company will be renting a building it once owned just southwest of it, on Denny Way.

The move was announced Thursday, after the paper sold its eight-story future home at 1000 Denny Way to its new landlord, H5 Capital-Seattle Real Estate LLC, an affiliate of California Real Estate Firm Simms Commercial Development of Beverly Hills, for $36 million.

The move from the John Street building frees up the property to do be "developed" (aka "demolished" if developers can get around the historical-landmark status of part of the structure), and it gives the Times some much-needed capital.

The lease that the paper signed with H5/Simms for its new home is apparently for 10 years, with a choice to extend afterward. That gives Times publisher Frank Blethen the option to move out of downtown completely if revenue becomes harder to come by than it already is.

The Times' current headquarters is here:


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Its new headquarters will be here:


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Furthermore, the paper is also trying to sell the old, red brick Troy Laundry building just north of its current HQ. So, if you know anyone . . .

 
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