press release
The historic former Fire Station 37, located at 7300 35th Ave. S.W. in West Seattle, has been sold for $613,000, city officials announced today. The city set a minimum price of $250,000 for the property.

With a 5 percent commission on the sale and other minor closing costs, the city netted $579,807.25. The revenue from this sale will help replenish the Fire Facilities and Emergency Response Levy Fund. Levy proceeds and other funding, such as the sale of former fire stations, are being used to upgrade, renovate and replace 32 neighborhood fire stations, among other things. Seattle voters approved the levy in November 2003.

In September 2011, the City Council authorized sale by competitive process of this former West Seattle station and former Fire Station 38 in the Ravenna-Bryant neighborhood. Conclusion of that sale is pending and details will be released once the sale has closed.

The Council directed the Department of Finance and Administrative Services (FAS), which manages the city’s fire stations, to accept the best offer for the property. The Council did not specify any particular method of sale process to provide FAS the flexibility required to receive the highest price for these properties on behalf of Seattle taxpayers.

Earlier this year, FAS hired Colliers International to market the properties on the city’s behalf. The properties were advertised on Feb. 21, 2012, with offers due on April 20, 2012. Colliers held open houses on March 10 and April 7 at each of the fire stations.

The city required offers be prepared with no contingencies, proof of funds, and an earnest money check of $10,000. Once the city reviewed the initial offers, Colliers invited the parties to submit a best and final offer.

During the best and final offer round, the parties had no information concerning the other bidders, even the number of other bidders, just a new minimum price if they wished to make a second and final offer.

This type of offering, with a second round for best and final offers, has been used previously on a number of city real estate dispositions, including the sale of the Dexter Horton Building, Alaska and Arctic Buildings, and the property at 2010 S. Jackson St.

The sale of these historic fire stations generated widespread interest. The open houses were well attended, and the city received a number of offers for each station.

No buyer was named in the news release.