Pacific Block closer to being sold

Hopes are building again that vacant property in the heart of downtown Tacoma is moving toward development as commercial space. Known as the Pacific Block, the property owned by Pierce County is one of the choicest pieces of downtown commercial property. It is located on the west side of Pacific Avenue between 13th and 15th streets and is just north of the Tacoma Convention and Trade Center, which is under construction.

County Executive John Ladenburg announced a real estate purchase and sale agreement has been signed with Leavitt Capital Companies of Seattle for lots 1 through 12 at the north end of the block. The agreement covers the historic 24,000 square foot Luzon Building at 13th and Pacific.

Under the agreement Leavitt would purchase the Luzon building and an adjacent lot for $214,000. In a separate agreement the company would purchase lots 3 through 12 for $800,000. The company has 60 days to consummate the purchase. Leavitt has the option of walking away from the deal if it isn’t satisfied with the properties or conditions.

To read the Tacoma Daily Index‘s complete and comprehensive coverage of the Luzon Building, click on the following links: