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Madison Centre

530-foot-tall skyscraper in Downtown Seattle, Washington

Field	Value
name	Madison Centre
former_names	M5 Commerce Centre, 505 Madison
image	Madison Centre.jpg
caption	Madison Centre in October 2017
location	920 5th Avenue, Seattle, Washington 98104
coordinates
map_type	Seattle WA Downtown
map_caption	Location within downtown Seattle
start_date	2014
opened	October 2017
building_type	Office
roof	530 ft
top_floor	37
floor_count	37
elevator_count	20
cost	$157 million
floor_area	754184 sqft
parking	480 spaces
architect	NBBJ
structural_engineer	DCI Engineers
main_contractor	Sellen Construction
developer	Schnitzer West
owner	Boston Properties
website
references

Madison Centre (formerly known as M5 Commerce Centre and 505 Madison) is a 530 ft skyscraper in Downtown Seattle, Washington. It was completed in October 2017 and has 37 floors of office space totaling 746,000 sqft of gross leasable area. It is the thirteenth-tallest building in Seattle. It is located at the intersection of 5th Avenue and Madison Street in Downtown Seattle, adjacent to the Seattle Central Library and William Kenzo Nakamura United States Courthouse.

History

Schnitzer West bought the existing property from the College Club of Seattle in 2007 and hoped to begin construction of a skyscraper as early as 2008. In the meantime, however, the late-2000s recession struck the economy and consequently the fate of many commercial real estate projects came under doubt, including 505 Madison. Further development of the project hinged on securing a sufficient number of preleases by 2009, which did not occur.

In 2012, the project was revived and the developer began seeking permits to start construction. Demolition of the pre-existing buildings on the site began in early September 2014. In February 2016, Cornerstone Real Estate Advisers (now merged into Barings) announced that it would enter a joint venture with Schnitzer West to develop Madison Centre. Construction on the tower topped out in October 2016, and the tower opened for occupancy in October 2017.

Madison Centre was sold in May 2022 to Boston Properties for $730 million.

Tenants

The retail space facing Marion Street was leased to Amazon Go, the second store for the cashier-less convenience store. It opened on August 27, 2018. Hulu signed a major lease for 67,400 sqft within the building in April 2019. Amazon Go closed in June 2023 and is planned to be replaced in 2024 by a small delicatessen and market.

References

"Elevators".
Rosenberg, Mike. (March 10, 2017). "Record construction frenzy sweeps downtown Seattle; more building to come". [[The Seattle Times]].
"Madison Centre". Schnitzer West.
"Schnitzer West, Madison Centre: Business Nexus". [[NBBJ]].
"Emporis building ID 318185". [[Emporis]].
Miller, Brian. (October 23, 2017). "Madison Centre opens, with 70% of the office space still available". [[Seattle Daily Journal of Commerce]].
James, Andrea. (March 14, 2007). "More office space at College Club site". [[Seattle Post-Intelligencer]].
Shevory, Kristina. (October 21, 2008). "Even in Resilient Seattle, Office Vacancy Rate Is Rising". [[The New York Times]].
Porter, Lynn. (November 10, 2008). "Seattle commercial real estate players: 'We're not immune'". [[Seattle Daily Journal of Commerce]].
Holden, Dominic. (April 7, 2009). "Re: Boom Forever". SLOG.
Pryne, Eric. (April 25, 2012). "Schnitzer West revives plan for 36-story office tower downtown". [[The Seattle Times]].
Levy, Nat. (August 22, 2014). "Schnitzer West getting ready to start Madison Centre". [[Seattle Daily Journal of Commerce]].
(February 17, 2016). "Cornerstone joins Madison Centre JV". [[Seattle Daily Journal of Commerce]].
Mitanis, Marcus. (October 6, 2016). "Two Highrise Office Projects Top Out in Seattle". Skyrise Cities.
Miller, Brian. (May 18, 2022). "Madison Centre trades for $730M". Seattle Daily Journal of Commerce.
Day, Matt. (August 27, 2018). "Amazon has a second Go at cashierless convenience store in downtown Seattle". The Seattle Times.
Stewart, Ashley. (April 17, 2019). "Hulu growing Seattle footprint with lease for new Madison Centre office". Puget Sound Business Journal.
Thompson, Joey. (December 7, 2023). "Former Amazon Go space in downtown Seattle gets new tenant". Puget Sound Business Journal.

Info: Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

skyscraper-office-buildings-in-seattle nbbj-buildings office-buildings-completed-in-2017 2017-establishments-in-washington-(state)

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