By submitting the form, you agree to the terms and conditions of our Confidential Disclaimer.
INVESTMENT HIGHLIGHTS
World Famous Pike Place Market: The Property is connected to Seattle’s famous Pike Place Market with high daily foot and vehicle traffic counts and exposure to over 10M annual visitors.
Owner-User/Value-Add Opportunity: Significant upside upon the lease-up of the 12,265 lower level and coveted corner space, increasing NOI by approximately 53% in Year 3. A variety of commercial, storage, entertainment, or other uses are allowed.
Leasing Velocity: Significant recent leasing velocity with new leases executed by Vampire Penguin, Plantiful, and De’Core paying between $52-$65 PSF NNN.
Established Anchor Tenant: Well-established and committed anchor tenant in Pike Brewing Company who is consistently hitting percentage rent thresholds and owned by renowned Seattle Hospitality Group.
Long-Term Tenancy: Over 39% of the GLA has been occupied for over 10 years with a WALT of 7.63 years.
Waterfront Revitalization: Nearby, the new $3.5 billion waterfront project is nearing completion (est. 2025) and will connect to the Property. In addition, the 2026 World Cup is estimated to bring over 100k people to Seattle.
Walkability and Connectivity: The Property is connected to the main entrance of Pike Place Market, the Waterfront, and Post Alley.
Return to Office: In close proximity to numerous Fortune 500 companies including Google and Amazon, of which the Property has benefited significantly from the return to office mandates recently issued.
