In 2017, a gleaming tower pierced the Seattle skyline: Madison Centre. Madison Centre stands tall at 530 feet, boasting 37 floors of prime office space. This wasn’t always the plan. Originally dubbed “M5 Commerce Centre” and then “505 Madison,” Madison Centre’s journey began in 2007. Schnitzer West, the developer, envisioned a skyscraper on the site, formerly home to the College Club of Seattle. The 2008 recession brought dark clouds. The project stalled, a victim of economic uncertainty. The dream of a towering structure seemed to fade.
Madison Centre wouldn’t stay down. In 2012, the project saw a revival. Permits were sought, and in 2014, demolition began, clearing the way for the future. Cornerstone Real Estate Advisers (now known as Barings) joined Schnitzer West in 2016. This partnership fueled the construction. By October 2016, Madison Centre reached its peak, a symbol of resilience against the odds.
The grand opening of Madison Centre occurred in October 2017. Initially, a significant portion of the office space remained available. This modern marvel holds 746,000 square feet of gross leasable area. It is currently the thirteenth-tallest building in Seattle, a testament to the city’s growth and ambition. The building is nestled in the heart of downtown, at the intersection of 5th Avenue and Madison Street. It stands proudly alongside Seattle landmarks like the Seattle Central Library and the William Kenzo Nakamura United States Courthouse.
Madison Centre even housed an Amazon Go store, a cashier-less convenience store. This innovative addition graced the retail space facing Marion Street, opening in 2018. However, the Amazon Go store closed its doors in 2023. A delicatessen and market are planned to replace it in 2024. Another notable tenant is Hulu, which secured a large lease in 2019. Madison Centre’s story is one of perseverance. It’s a story about overcoming economic hurdles to become a landmark of modern Seattle. In May 2022, Madison Centre was acquired by Boston Properties for a staggering $730 million. This sale solidified its place as a valuable asset in Seattle’s vibrant cityscape.