The Capitol Hill building that houses the Elliott Bay Book Company has been sold, but the bookstore itself is apparently staying where it is.
The Capitol Hill building that houses the Elliott Bay Book Company has been sold, but the bookstore itself is staying where it is.
The Ford Building, which the Elliott Bay Book Company moved into in 2010, was sold for $14 million on April 28 by Seattle-based real estate company Hunters Capital.
The buyer is Bellevue 2606 LLC, an affiliate of Mercer Island-based Keeler Investments Group. Keeler Investments could not be reached for comment.
Elliott Bay Book Company is currently in the midst of a 10-year lease, and has options for extensions, Peter Aaron, the bookstore’s owner, said Thursday evening.
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The building also houses fashion boutique Totokaelo.
Michael Malone, principal of Hunters Capital, bought the Ford Building, at 1521 10th Ave., for $551,000 in 1987, according to property records.
Both Elliott Bay Book Company and Totokaelo are staying, said Michael Oaksmith, director of development for Hunters Capital.
“We were careful selling it to the Keeler family,” he said. “They have a record of caring for local real estate. It was important for us to find a responsible buyer locally.”
Keeler is excited about having the bookstore and fashion boutique as tenants, Oaksmith said.
Hunters Capital will use the proceeds of the sale to purchase another local property, he said.