The property is assessed at $3.1 Million. The hotel developers are offering $500K. No thank you. But also No Thank You to a non-profit wanting a 25 year lease with an option for 25 more years. Six year lease, two 3 year tenant options to extend. The structure is old, but it isn't a downtown jewel. In 12 years, the surrounding parking lots hopefully will be developed, defining the area. Then Olympia can re-evaluate.
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