41,000 SF Value-Add Industrial
- Acquired December 2020.
- Class B industrial building totaling 41,000 SF on 0.87-acres. Property was purchased off-market from private trust and a new 10-yr blend/extend was executed in escrow with existing tenant O.B. Williams creating attractive immediate cash flow.
- Built in 3-phases between 1907-1920, the property was constructed for current tenant O.B. Williams (see historic photos at bottom) that has been in SODO for over 100+ years in operation including the the adjacent structure to the south currently occupied by Macrina Bakery. The property loads off of 2 sides and has retail like visibility along First Ave S between Pioneer Square and the Starbucks HQ. Additionally, zoned IG1-85 currently allows for development today up to 85 feet providing long-term upside.
- Located within SODO submarket within City of Seattle between Pioneer Square and Starbucks Headquarters along First Ave S and close proximity to I-99 & I-5, Port of Seattle and downtown Seattle. Long-term the site is well positioned for continued last mile delivery or redevelopment opportunities.