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.