Fisher Plaza Appraised at $142 Million
July 15th, 2011 By: Rich Miller
There have been past reports that Fisher Communications was looking to sell Fisher Plaza, its communications and data center complex in Seattle. This week the firm marketing the building says it has been appraised at $142 million and is drawing strong interest.
Representatives of Moelis & Company, which is marketing the building, told Globe Street that “interest is strong from national office and data center buyers, as well as local Seattle real estate players.”
Fisher Plaza is a Class A office, data center and retail campus near the Space Needle with approximately 294,000 rentable square feet. Internap (INAP) has a significant data center presence at Fisher Plaza, while other industry tenants include Adhost, Cogent Communications (CCOI), Electric Lightwave, AboveNet, Global Crossing, Time Warner Telecom and Qwest. Fisher Plaza also operates its own colocation space in the building.
A 2009 fire at Fisher Plaza caused $6.8 million in damages, with Fisher Communications recovering about $5.8 million from insurers. The July 2, 2009 incident knocked payment processor Authorize.net offline, disrupting e-commerce for thousands of web sites.
Fisher Communications owns 20 television stations and eight radio stations, including Seattle’s KOMO TV and KOMO radio stations, which are housed in Fisher Plaza.