Seattle, WA, June 13, 2015 –Meriwether Partners announced today that they have purchased the historic Ainsworth & Dunn warehouse and the adjacent surface parking lot located at 2815 Elliott Avenue. The 28,730 sq. ft. site was purchased for $9 million from the Dussin family who also owns the Old Spaghetti Factory restaurant occupying the first floor of the building. The Old Spaghetti Factory will remain open while the partnership completes its planning for the site.
“The Ainsworth & Dunn warehouse is located on a prominent corner that is now at the nexus of many urban planning initiatives,” said Joel Aslanian, principal at Meriwether Partners. “The site anchors the north end of the waterfront, sits across the street from the Olympic Sculpture Park, and is located at what may become a terminus for the Lake to Bay urban trail.”
Planning for future uses of the building and adjacent property are still under consideration. “The site has a lot of interesting potential between the surface lot and the Ainsworth & Dunn warehouse,” said Aslanian. “We are just at the beginning stages of exploring our design options but whatever we do, it will connect to the public spaces, honor the historic building, and be a high quality project.”
About Meriwether Partners LLC - Meriwether Partners is a real estate investment firm with offices in Seattle and Portland. Meriwether forms partnerships to acquire, develop and manage real estate investments on behalf of the Meriwether principals, high-net worth individuals, family offices, and institutions. The company has acquired more than 2 million square feet of commercial real estate at a cost of over $350 million. Recent Meriwether projects include: the development of 19th & Mercer on Capitol Hill, the renovation of the historic 215 Columbia Building in downtown Seattle, and the gut renovation of the Capitol City Business Center in Salem, Oregon.