Retail    

First & Union

 Seattle, WA

Asking Price

Best Offer

Ribbon-Icon

High Profile

Famous Pike Place Market Neighborhood

Icons_YrBuilt-Hammer-Icon

Year Built

1985

Icons_BuildSize-SqFt-Icon

Square Feet

48,883 SF

Outparcel-White-Icon

Nearby Attractions

Great Location

For more details on this exclusive listing, execute the following NDA.

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.
  • Value-Add Upside: Rental upside provided via lease up of over 30% of GLA, including the 25% lower-level Post Alley space with a pending LOI a buyer may step into. Alternatively, 12k square feet could be available for an alternative use or owner-user facility.
  • Established Anchor Tenant: Well-established and committed anchor tenant in Pike Brewing Company who is consistently hitting percentage rent thresholds.
  • Long-Term Tenancy: Over 34% of the GLA has been occupied for over 10 years with a WALT of 11.1 year time frame factoring in the distillery LOI. Additional leasing momentum with new leases executed by Plantiful and De’Core.
  • Waterfront Revitalization: Nearby, the new $750 million waterfront project is nearing completion (est. 2025) and will connect to the Property at Union St.
  • Walkability and Connectivity: The Property is connected to the main entrance of Pike Place Market, the Waterfront, and Post Alley.

Exclusively Listed By

Sean Tufts

Managing Director
  seantufts@northmarq.com      206.693.3352
WA Lic. #74057

Kevin Adatto

Managing Director
  kadatto@northmarq.com      503.675.7726
WA Lic. #21038208

Joe Dugoni

Associate
  jdugoni@northmarq.com      206.693.3329
WA Lic. #21001346

Northmarq

130 Nickerson St, Suite 200
Seattle, WA 98109

northmarq.com