DAVID ZARETT began his career as a commercial real estate broker in Los Angeles, California. In 1992 he relocated to Seattle and formed Zarett Properties, a privately-owned real estate development firm which David used to purchas turn-of-the-century buildings in Pioneer Square and Capital Hill. Zarett Properties converted these two properties into elegant commercial, creative and retail spaces.
“I’ve always been drawn to older buildings because they’re one of a kind,” David Zarett says. “Nobody’s going to build them anymore. Nobody’s going to design a building with 2-foot-thick brick walls and giant beams, because today it’s cost prohibitive.”
David also bought the Diamond Ice building in 1997 for $1.2 million. With holes in the floors, rotting beams it had been condemned by the city. After nearly three years and $10 million worth of work, Zarett Properties opened the doors to The Cobalt Group, Starbucks Corp. and an Internet company.
Zarett Properties then sold the 98-year-old Cobalt Building for $20 million in 2007. The 122,000-square-foot building near CenturyLink Field (Home of the Seattle Seahawks and Seattle Sounders) was bought by UCM/FPI-Cobalt LLC.
Presently, David has shifted his focus to building green, sustainable, energy efficient properties, and devoting time to deserving charitable organizations and philanthropic causes.