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Sabey's next move. (real estate developer David Sabey)
As Nordstrom readies to move into the old Frederick & Nelson building in one of downtown Seattle's biggest events of the year, the man who bought F&N and rode it into bankruptcy six years ago has staged a bit of a comeback himself.
David Sabey burst back onto the scene last week by selling the NorthTown Mall in Spokane for $128 million, including transfer of a $84.5 million in debt.
He picked up the mall in 1989 for about $25 million. He spent a substantial amount revamping it and doubling its size before selling, but won't disclose how much.
Looking forward, his Sabey Corp. has just paid $3 million for 12 acres on Pacific Highway in Tukwila, where he plans to build three new office buildings totaling 240,000 square feet. The company recently built a similar complex nearby for the U.S. …
