Capitol Hill preservation-minded developer Liz Dunn has added another building to her Pike/Pine holdings as the old H.W. Baker Linen Supply Co. building has a new owner.
The 103-year-old building at 11th and E Pike was sold last week to a Dunn-owned company for $5.4 million, the Puget Sound Business Journal reports. The 19,000 square-foot building comes with a set of tenants including Retrofit Home which moved to the corner in 2010 and the reborn Cafe Pettirosso which reopened with new owners and an expansion in 2012.
The acquisition adds to Dunn’s presence on the block as the developer of the Piston Ring project completes her Chophouse Row development on the 11th Ave side of things. In addition to a restaurant and open marketplace, Dunn’s Chophouse project will also add much-anticipated office space to the Pike/Pine neighborhood. The newly acquired Baker Linen building also comes with a set of office tenants on its upper floors including architects and the strategic command of Linda Derschang’s Capitol Hill empire.
At $5.4 million, it’s not clear exactly what ROI longtime owner artist Susan Singleton achieved in the deal. Singleton and her husband reportedly acquired the building from Cornish College in the early 90s. The Winston apartment building across the street home to E Pike residents and the Wildrose sold for $4.65 million in 2012.
We asked Dunn about the transaction and her plans for the Baker Linen building. She said she has “no immediate plans” for the building and all the tenants are staying.