Georgetown Yards — Sale in Seattle, WA
- Price: $550
- Listing type: For sale
- Asset type: Office
- Location: Seattle, WA 98134
- Year built: 1983
Photos
Description
Georgetown Yards presents an exceptional investment opportunity to acquire a recently renovated, 89,839-square-foot mixed-use asset in the heart of Seattle’s growing Georgetown creative district. This institutional-quality property, renovated in 2020, offers secure, in-place cash flow with significant upside driven by its strategic location and the neighborhood’s upward trajectory. This 5-building property combines modern buildouts with industrial roots including extensive loading capabilities: 14-foot clear heights throughout Buildings D and E and 19’ clear height in Building A. Building A includes one exterior dock-high door and three 10’×12’ drive-in doors. Building D features two 10’×12’ drive-in doors, and there are an additional two 10’×12’ drive-in doors that provide access to the covered parking attached to Building E. This adaptability allows it to serve a diverse mix of office, light industrial, recreation, and food service businesses that cannot be accommodated by traditional single-use commercial properties. The Tenants include Arena Sports, a legacy tenant since 1995, and Lifelong, a federally funded 501(c)(3) non-profit organization with over 40 years of operational experience aimed at removing barriers to health for those in need. Combined, the two tenants account for 59% of the RBA which is further diversified by a commissary kitchen and Seattle Therapy Network. The property’s compelling financial profile is anchored by its current 80% occupancy and a 7-year weighted average lease term presents a clear opportunity to increase occupancy, supported by the stable in-place cash flow. The asset’s financial attractiveness is enhanced by operating expenses that are about 25% below the mid-teens market standard, providing a distinct competitive advantage for leasing. The investment thesis is further strengthened by the transformative Bend Live/Work District, a planned $550 million development adjacent to the property. This project is expected to drive an
Market Context
This office in Seattle, WA is listed for sale at $550. The building dates to 1983. Compare it against other office listings for sale in Seattle, WA — view the full market.
Contact
- Mark Katz · 8472743316 · mark.katz@jll.com
- Sam Ziemba · 4259744005 · sam.ziemba@jll.com
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