Originally published May 7, 2008 at 12:00 AM | Page modified May 7, 2008 at 4:02 PM
PrintZymoGenetics wants to sell vacant Eastlake tract
ZymoGenetics plans to sell a parcel of vacant land near its Seattle headquarters.
Seattle Times business reporter
ZymoGenetics wants to turn some of its land into cash before the end of the year.
The Seattle biotechnology company said in a regulatory filing that it wants to sell a vacant lot near its Eastlake headquarters.
The traransaction is "still in negotiation, not settled," said spokeswoman Susan Specht on Wednesday, but a sale would "a nice chunk of change."
The land, previously tagged for future expansion, has a carrying cost of $4.5 million, according to a filing with the Securities and Exchange Commission.
It's not the first time that ZymoGenetics sheds real estate. In 2002, the company sold its state-of-the-art headquarters for $52 million, and it now leases the building, a historic power plant near Lake Union.
"We're not in the real estate business," said Specht. Selling the lot is a way to "monetize our assets in the best interest of shareholders."
Ángel González: 206-515-5644 or agonzalez@seattletimes.com
Copyright © 2008 The Seattle Times Company
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