SEATTLE CBD
GREENLAKE
AURORA AVE N
NORTH SEATTLE OFFERING
KIDDER.COM TWO-PROPERTY OFFERING | WWW.NORTHSEATTLEOFFERING.COM CONTACT
JASON ROSAUER 206.296.9608 [email protected] NORTHGATE MALL ROB ANDERSON 01 206.296.9644 INVESTMENT SUMMARY [email protected] The Offering Offering Process KEN HIRATA Property Overview 206.296.9625 TABLE OF Investment Highlights [email protected]
KRISTYN KRUEGER 02 206.398.2270 CONTENTS PROPERTY SUMMARY [email protected] Property Details Zoning Information Potential Views
KIDDER.COM 03 LOCATION OVERVIEW The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kidder Mathews and should not be made Neighborhood Summary available to any other person or entity without the written consent of Location Highlights Kidder Mathews. Demographics This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only Amenities a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence Public Transit / Traffic Count investigation. Kidder Mathews has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating 04 substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the MARKET OVERVIEW financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained Seattle / Puget Sound Overview from sources we believe to be reliable; however, Kidder Mathews has Development Pipeline not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews conducted any investigation regarding these Comparables matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the AURORA AVE N information and bears all risk for any inaccuracies. SEATTLE CBD U DISTRICT
GREENLAKE
01
AURORA AVE N INVESTMENT SUMMARY
THE OFFERING
OFFERING PROCESS
PROPERTY OVERVIEW
INVESTMENT HIGHLIGHTS
NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 5 AURORA AVE N
INVESTMENT SUMMARY
Kidder Mathews is pleased to PROPERTY OVERVIEW present for sale, the North Seattle
N 96TH ST Offering, located in Seattle's Property Address 9608 Aurora Ave N 1137 N 96th St rapidly developing North Seattle Neighborhood. two noncontiguous properties suitable for an owner/user or investor. Parcel 6153900025 3126049328 Located right off of Aurora Ave N, THE OFFERING the first property is comprised of a Building Type Office / Showroom Warehouse / Light Manufacturing Kidder Mathews is pleased to present 4,976 SF office/showroom spread Building SF 4,976 13,900 for sale the North Seattle Offering, over a 20,417 SF lot. The second MIDVALE AVE N located in Seattle’s rapidly developing property, positioned adjacent off North Seattle Neighborhood. of N 96th St, consists of a 14,294 SF Land SF 20,417 14,294 warehouse. Originally developed and The North Seattle Offering is located operated by Quiring Monuments, this Zone NC3-75’ (M) NC3-75’ (M) just less than two miles away from two-property offering contains 100 the incoming Northgate Light Rail years of family tradition, experience, Pricing $3,250,000 $2,800,000 Station, 1m SF of Class A office space, and history that has provided state- 900+ apartment units, and future NHL of-the-art materials and designing training facility. This offering includes technologies to monuments
6 KIDDER MATHEWS OFFERING MEMORANDUM NORTH SEATTLE OFFERING NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 7 throughout the Western United States. Specializing in granite that Tow-property offering is sourced internationally, Quiring buyer greater flexibility to develop a larger project or Monuments produces and distributes capitalize on the increasing population and demand located in North 12,000 to 15,000 monuments yearly throughout the area. in the buildings currently occupying Seattle's and situated in the two properties. The North Seattle Offering provides a prospective buyer an outstanding opportunity to either develop a wide a newly up-zoned and Located along one of Seattle’s most range of end uses, including apartments, condos, senior highly trafficked corridors, the North housing, hospitality, or self-storage uses, as well as general rapidly developing area, Seattle Offering is well situated in one retail or office uses, or repurpose the existing structures INVESTMENT of Seattle’s last remaining high growth for an owner/user or value-add investor. less than 15 minutes submarkets only 15 minutes from HIGHLIGHTS Seattle’s CBD. With 192 apartment OFFERING PROCESS from Seattle's CBD. units recently completed within a half mile radius of the property, another The North Seattle Offering is available for sale with READILY developable site located in a rapidly developing 178 units under construction, and an the following pricing- North Seattle neighborhood with 52 projects underway additional 324 units in the pipeline, within a mile $3,250,000 (9608 Aurora Ave N) this area will continue to densify STRUCTURAL integrity of existing buildings provides a and grow as the general Seattle $2,800,000 (1137 N 96th St) developer the opportunity to collect cash flow while market continues to expand with working through entitlements the incredible level of recent job The ownership will review and respond to offers as AURORA AVE N growth. In efforts to address the huge submitted while reserving the right to call for offers NEWLY up-zoned by the city of Seattle allowing for housing demand, a recent up zone in at a later date. Additional information can be found additional uses including residential, hotel, and office the neighborhood will allow a future online at www.NorthSeattleOffering.com. amongst others
LOCATED within two miles of the planned Northgate overhaul which will include 400,000 SF of retail space, 1 million SF of office space, 953 residential units, 400 hotel rooms, 7.5 acres of open space, as well as a $75 million, 140,000 SF NHL training facility
STRONG walk and bike score with increased transit score due to the incoming $2 billion Northgate Link Extension project with a slated completion date of 2021
GREAT street visibility and access to site via SR 99 and I-5
SIGNIFICANT recent rental growth and demand due to unprecedented economic and job growth throughout the great Puget Sound region
CONSIDERABLY low submarket vacancy of less than one-percent
8 KIDDER MATHEWS OFFERING MEMORANDUM NORTH SEATTLE OFFERING NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 9 NORTHGATE MALL / INCOMING NHL FACILITY
NORTH SEATTLE COMMUNITY COLLEGE
FUTURE NORTHGATE LIGHT RAIL STATION (2021) 02 PROPERTY SUMMARY
N 96TH ST PROPERTY DETAILS
ZONING INFORMATION
POTENTIAL VIEWS
AURORA AVE N
NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 11 PROPERTY SUMMARY
built out for operations related to consisting of four stalls separates Quiring Monuments in the early the north and south buildings. The AURORA PARCEL part of the 20th century. Located on north warehouse building consists 20,417 SF of land, half of the lot is of 2,752 SF and one roll up door 9608 AURORA AVE N utilized for storing finished products providing access to the building This site is positioned with great with the other half comprised of for distribution purposes. There visibility and access located on a three separate buildings totaling is great structural integrity of all corner lot off of the highly trafficked 4,976 SF. The south building is of the buildings, providing either AURORA PARCEL Aurora Ave N and across the street a one-story office building and an opportunity to occupy and/or 9608 AURORA AVE N from a planned 227,000 SF self- comprised of 1,408 SF of space repurpose, or alternatively short- storage project. The property was with an 816 SF warehouse building term income, while working through the first of the three acquired and directly east. A surface parking lot the entitlement process.
AURORA AVE N
AURORA PARCEL OVERVIEW PROPERTY 1 OVERVIEW Address 9608 Aurora Ave N Property Address 9608 Aurora Ave N 1137 N 96th St Industrial - Storage Warehouse / Type Parcel 6153900025 Warehouse3126049328 Office BuildingsBuilding Type Office / Showroom3 Warehouse / Light Manufacturing
WarehouseBuilding SF 4,976 3,568 SF13,900
OfficeLand SF 20,417 1,408 SF14,294
GrossZone Building AreaNC3-75’ (M) 4,976 SFNC3-75’ (M)
YearPricing Built $3,250,000 1963 / 1992$2,800,000
Parking Stalls Parking Stalls 6 6
Land Area Land Area 20,41720,417
Zoning Zoning NC3-75NC3-75 (M) (M) N 96TH ST
12 KIDDER MATHEWS OFFERING MEMORANDUM NORTH SEATTLE OFFERING NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 13 SEATTLE CBD U DISTRICT
GREENLAKE 96TH ST WAREHOUSE
AURORA AVE N 1137 N 96TH STREET Located east of Aurora Ave N and south of N 96th Street, this property entails a large warehouse and distribution facility with a small portion of second- floor office. The two-story building includes 13,900 total SF on a 14,294 SF lot. Originally acquired from a local beer distributor, the property is two-story on PROPERTY 3 - the eastern side of the building with warehouse on the 1137 N 96TH ST first floor and 1,600 SF of office space above. On the 96TH ST WAREHOUSE western side of the building is an approximately 24’ 1137 N 96TH ST clear height warehouse space. With several warehouse doors on the north side of the building, this property is well situated for an owner/user or value-add investor considering the high demand in Seattle’s close-in industrial market.
96TH ST WAREHOUSE OVERVIEW
Address 1137 N 96th St Industrial – Warehouse / Type Warehouse Office Buildings 1
Warehouse SF 12,300 SF
Warehouse Office SF 1,600 SF
Gross Building Area SF 13,900 SF
Year Built 1953
Land Area SF 14,294 SF
Zoning NC3-75 (M)
14 KIDDER MATHEWS OFFERING MEMORANDUM NORTH SEATTLE OFFERING NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 15 ZONING INFORMATION SEATTLE CBD As demand continues to climb throughout Seattle, a recent up- zone in the North Seattle area has been implemented to address the influx of population. Previously in a GREENLAKE zone that did not permit residential/ hotel, all three of the properties now fall within Seattle’s newly up- zoned NC3-75(M), allowing for a LOOKING NORTH AT 75' wider range of end uses as well as taller, more dense buildings. As this area continues to grow, prospective developers can capitalize on this up- zone and benefit from the nearby demand and development that is already underway.
NORTH SEATTLE OFFERING Zoning NC3-75 (M) Neighborhood Commercial
AURORA AVE N Overlay Zones Residential Urban Village Overlay
LOOKING EAST AT 75' Height Max height 75' FAR Base 5.5 Max Commercial or Residential Permitted Uses Office U DISTRICT Hotel Apartments SEATTLE CBD Condos Senior housing Low Income Housing Hospitality Self-storage Retail
LOOKING SOUTH AT 75' Required Parking None
16 KIDDER MATHEWS OFFERING MEMORANDUM NORTH SEATTLE OFFERING NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 17 SEATTLE CBD
U DISTRICT
MAPLE LEAF GREENLAKE
NORTH SEATTLE OFFERING 03 LOCATION OVERVIEW
NEIGHBORHOOD SUMMARY
LOCATION HIGHLIGHTS
DEMOGRAPHICS
AURORA AVE N AMENITIES
PUBLIC TRANSIT / TRAFFIC COUNT
NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 19 SEATTLE CBD U DISTRICT
GREENLAKE NEIGHBORHOOD SUMMARY the recent up-zone due in part GREENWOOD to Seattle’s unprecedented job growth, as well as the incoming NORTH SEATTLE Northgate Light Rail Station, 1 Positioned in the increasingly million square feet of Class A office developing North Seattle area, the space, 900+ apartment units, and site is located in the Licton Springs future NHL training facility just two neighborhood, bordered by the miles away. Additionally, the North highly populated Greenwood, Seattle Offering benefits from being NORTH SEATTLE LOCATION Maple Leaf, Northgate, and Green within blocks of both SR 99 and OFFERING Lake submarkets. This immediate I-5, providing easy access to the area will continue to garner surrounding region, with Seattle OVERVIEW significant demand due to both CBD less than 15 minutes away.
NORTHGATE MALL / FUTURE AURORA AVE N NHL ICE HOCKEY FACILITY LOCATION HIGHLIGHTS
NORTHGATE MAPLE LEAF LOCATED in a rapidly developing area within five minutes of planned Northgate Overhaul & Seattle's Greenlake neighborhood
INCOMING Northgate Light Rail within 1.5 miles from subject property
UNPARALLELED visibility and high level of traffic counts
EASY access to Washington’s Highway 99 and I-5
NORTH SEATTLE RECENTLY up-zoned area boosting demand and local development OFFERING nearby N 97TH ST BORDERED by booming Greenwood, Northgate, Maple Leaf, and Green Lake submarkets
AURORA AVE N 20 KIDDER MATHEWS OFFERING MEMORANDUM NORTH SEATTLE OFFERING NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 21 Less than two miles DISTANCES & DRIVE TIMES NORTHGATE MALL / FUTURE NHL ICE HOCKEY FACILITY from incoming 5 MINUTE DRIVE TO NORTHGATE MALL Northgate Light Rail 1.4 MILES FUTURE NORTHGATE LIGHT RAIL STATION Station on one of (2021) 20 MINUTE DRIVE TO DOWNTOWN SEATTLE Seattle's most heavily 8 MILES trafficked corridors. 12 MILES 20 MINUTE DRIVE TO DOWNTOWN BELLEVUE
5.8 MILES 10 MINUTE DRIVE TO UNIVERSITY OF WASHINGTON
NORTH SEATTLE 30 MINUTE DRIVE TO SEA-TAC AIRPORT OFFERING 20 MILES
5.7 MILES 12 MINUTE DRIVE TO SOUTH LAKE UNION
2 MILES 8 MINUTE DRIVE TO GREEN LAKE
0.5 MILES 3 MINUTE DRIVE TO NORTH SEATTLE COLLEGE 47,773+ DAILY
17 MILES 30 MINUTE DRIVE TO PAINE FIELD AURORA AVE N
N 15 MINUTE DRIVE TO EXPEDIA CAMPUS 35,129+ DAILY 7.1 MILES
N 96TH ST 22 KIDDER MATHEWS OFFERING MEMORANDUM NORTH SEATTLE OFFERING NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 23 SEATTLE CBD UNIVERSITY OF PACIFIC PLACE & WESTLAKE CENTER WASHINGTON CAPITOL HILL SLU PUGET LAKE SOUND DEMOGRAPHICS UNION WOODLAND PARK 1-Mile 3-Miles 5-Miles
Population 30,605 229,497 412,407 UNIVERSITY FREMONT DISTRICT GAS WORKS PARK Median Household Income $74,881 $78,968 $84,176
Median Home Value $358,271 $406,256 $429,234 GREEN LAKE PARK BALLARD GREEN LAKE
GREEN LAKE VILLAGE 5 MILES GREENLAKE DR N SHORELINE
3 MILES GREENWOOD AVE ROBERT EAGLE STAFF KIRKLAND MIDDLE SCHOOL GREENWOOD PARK
PUGET SOUND
1 MILE NORTHGATE
LICTON SPRINGS PARK
AURORA AVE N NORTH SEATTLE GREENWOOD OFFERNG GREENWOOD BALLARD NORTH SEATTLE PLAZA OFFERING NORTH SEATTLE COLLEGE
QUEEN
ISLAND ANNE N SLU BAINBRIDGE BAINBRIDGE BELLEVUE
SEATTLE N N 103RD ST
24 KIDDER MATHEWS OFFERING MEMORANDUM NORTH SEATTLE OFFERING NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 25 PUBLIC TRANSIT / TRAFFIC COUNT
TRANSPORTATION N PUBLIC TRANSIT LINK LIGHTRAIL STATISTICS which will feature frequent bus NORTHGATE The North Seattle Offering is situated in an excellent connection, a park-and-ride and a 5TH AVENE location, entailing a walk score of 82, but those bicycle/pedestrian bridge to North searching for a more efficient means of transportation Seattle Campus. The North Seattle NORTHGATE EXTENSION IS SET TO OPEN will soon have alternative options. Seattle’s $7 billion- Offering will benefit significantly N NORTHGATE WAY dollar Link Light Rail system will be completing its from the Northgate station with 2021 Northgate Link Extension in 2021, adding three new reduced travel times for commuters stations in Seattle, two underground in U-District allowing downtown Seattle to be and Roosevelt and an elevated station at Northgate, reached in less than 15 minutes. STATIONS NORTHGATE 3 TRANSIT
WALLINGFORD AVEN CENTER GREENWOOD AVE N AVE GREENWOOD N 100TH ST
82 73 53 SERVICE DURING PEAK HOURS FUTURE NORTHGATE 4-6 MIN NORTH SEATTLE LIGHT RAIL STATION (2021) WALK SCORE BIKE SCORE TRANSIT SCORE OFFERING
FROM NORTHGATE STATION TO 7 MIN UNIVERSITY OF WASHINGTON
8 MIN FROM U DISTRICT TO WESTLAKE CENTER N 92ND ST GREENWOOD
FROM NORTHGATE TO DOWNTOWN 14 MIN KEY LICTON SPRINGS Bus Route E
FROM NORTHGATE TO SEA-TAC AIRPORT Bus Route #40 47 MIN N 85TH ST Bus Route #41
Bus Route #26 41K - 49K DAILY RIDERS BY 2022
26 KIDDER MATHEWS OFFERING MEMORANDUM NORTH SEATTLE OFFERING NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 27 NORTHGATE MALL / INCOMING NHL FACILITY MAPLE LEAF
FUTURE NORTHGATE NORTH SEATTLE LIGHT RAIL STATION COMMUNITY COLLEGE (2021)
04 MARKET OVERVIEW
SEATTLE / PUGET SOUND OVERVIEW
DEVELOPMENT PIPELINE
COMPARABLES
AURORA AVE N NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 29 SEATTLE CBD
MARKET OVERVIEW NORTH SEATTLE
OFFERING AURORA AVE N and Apple. Most recently, Amazon has committed to SEATTLE MARKET over 1 million SF in Bellevue, casting a footprint large The Puget Sound region has proven its economic enough to rival a second headquarter location, further viability and resilience through the several economic demonstrating the Puget Sound Region’s economic storms its weathered from the boom and bust cycles appeal. In addition to its technology industry, the of Boeing, the Dot Com crisis to the financial crisis in skilled workforce in Seattle has proven a hotbed for its 2008. The strength and continued growth the region overall business culture. Other Fortune 500 companies experiences have garnered a significant amount of call Seattle home like Boeing, Weyerhauser, Starbucks, investment dollars from corporations, institutions, and and Nordstrom, which provide a strong sense of individuals both locally and worldwide. At the heart of diversity from the technology industry. According to MIDVALE AVE the region is Seattle and its unprecedented economic the website for the City of Seattle’s Office of Economic growth that has led the way for much of the country, Development, Seattle remains an established leader being recognized as the fastest growing big city in the with immunotherapy as well, with anchors like Juno country, the nation’s #1 city for jobs, and the current Therapeutics and the Fred Hutchinson Cancer Research crane count leader. This growth is largely attributed to Center. In South Lake Union, research and development its burgeoning tech industry and highly skilled labor in engineering and life sciences is nearly 14 times more pool. Several giants in the tech world call Seattle home, concentrated than it is nationally. The booming tech including Microsoft and Expedia, while numerous industry generally takes the headlines, but an emerging others continue to expand their Pacific Northwest life sciences sector, a growing talent pool, and an footprint, including Amazon, Google, Facebook, active commercial real estate industry has made the
30 KIDDER MATHEWS OFFERING MEMORANDUM NORTH SEATTLE OFFERING NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 31 SEATTLE RANKINGS TOP PUGET SOUND AREA COMPANIES
MOST SOFTWARE JOB OPENINGS (U.S.) #1 GLASSDOOR, 2017
CITY IN US TO FIND A JOB #1 WALLET HUB, 2015 In addition to the search for more space, in 2017 the net absorption FASTEST-GROWING BIG CITY for the Puget Sound region was 4.1 #1 US CENSUS BUREAU million square feet, which ranked second in the country only to Dallas.
HIGHEST JOB GROWTH FOR With a significant amount of office SMALL BUSINESSES IN THE US space in the construction pipeline, #1 PAYCHEX/IHS SMALL and 71% of that currently under BUSINESS JOBS INDEX construction already pre-leased, those positive absorption figures Puget Sound an increasingly strong are likely to stay high through the CITY FOR JOBS economic hub for the foreseeable strong. And as the median income INSIGNIA next two years. #1 future and a big reason why the continues to rise, which in some region’s current unemployment rate The significant growth in the Puget areas it has grown from $70k to over is at 2.9%. The overall office market MOST CONSTRUCTION Sound’s job market has created $80k in a few years, a strong class CRANES throughout Seattle has experienced huge demands on the residential of renters will maintain the strong #1 RIDER LEVETT BUCKNAIL LTD significant growth from the strong supply throughout the area. demand throughout the area. region wide economic fundamentals Throughout 2017 roughly 23,800 as well. Rents have increased steadily jobs were added to the Puget Sound The strong and growing renter TECH MARKET IN THE U.S. for the past six years as vacancy region with employment growth at pool throughout Seattle is largely CBRE #2 continues to hover below 10% 2.6% and income growth rising 5%. driven by the growth in personal region wide. Activity in this sector These positive trends have meant income. According to GeekWire, shows little signs of slowing either, as a booming market for the area’s Washington state leads the nation TOP CITY FOR TECH JOBS technology companies continue to multifamily sector. in personal income growth. This #2 GEEKWIRE expand their footprint by taking up growth has also pushed housing space in Seattle and the surrounding Rents have risen steadily throughout prices to all-time highs throughout submarkets. Record per-square-foot the area as the insatiable demand for the region, causing the Greater FASTEST GROWING CITY sales prices for commercial buildings housing grows. The opportunity for Seattle area to lead the nation #5 INSIGNIA continue to rise and positive rent growth continues throughout in home price increases for 20 absorption continues to increase. Seattle as apartment vacancy rates months in a row. Despite these Seattle’s recent growth that’s twice have remained under 4% for more rising housing costs, many of the BEST CITY TO LIVE IN the national average, a diverse than three years while rents have well paid workers in the area are INSIGNIA economy with an educated, young risen as much as 30% in some still making more money in Seattle #5 workforce, coupled with major submarkets. The in-migration of with their salaries going further in sports teams and natural attractions, well-paid employees looking for Seattle than in competing markets, provides for an ideal environment to apartments in the core areas near making the city the top relocation live, work, and flourish. job hubs will also keep the market destination for workers elsewhere.
32 KIDDER MATHEWS OFFERING MEMORANDUM NORTH SEATTLE OFFERING NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 33 NORTHGATE OVERHAUL
NORTHGATE
Plans are underway for a large- NORTH SEATTLE scale redevelopment project where OFFERING the current 55-acre Northgate GREENWOOD Mall is located, with the goal of DEVELOPMENT transforming the area into a thriving pedestrian-friendly, transit-oriented PIPELINE urban center. The project includes 400,000 square feet of retail space, shops and restaurants and the NHL GREEN NORTHGATE OVERHAUL 1 million square feet of office space, Seattle Ice Center. The facility will LAKE The North Seattle Offering offers 900+ residential units, 400 hotel be constructed using substantial future easy access to the upcoming rooms, roughly 7.5 acres of open amounts of Pacific Northwest Northgate Station slated to open space, and over 5,100 parking softwood timber products with in 2021. The Northgate Link stalls. Accompanying all this will each rink featuring locker rooms, U DISTRICT Extension project will not only be a $75 million, 140,000-square- including a state-of-the-art version allow commuters to reach jobs in foot hockey facility built and funded for the team, as well as workout downtown Seattle in less than 15 by NHL Seattle, that will include areas that will attract and retain elite FREMONT minutes, but is part of a larger plan three regulation NHL ice rinks with talent. The NHL ice center is set to to transform the area from a car- seats for 1800 fans. The layout open in 2021 and the Northgate mall N centric place to a more walkable will be centered around a new re-development project completion area with light rail access. park, ringed by an amphitheater, date is still being determined.
400K 1M 900+ 2,400 The“ Seattle Ice Center SF RETAIL SPACE SF OFFICE SPACE RESIDENTIAL UNITS HOTEL ROOMS will have 3 ice rinks - 1 main with 1,000 seats and 2 rinks with 400 7.5 5,100+ 140K 1,800 seats each.
ACRES OF OPEN SPACE PARKING STALLS SF HOCKEY FACILITY SEAT HOCKEY ARENA NORTHGATE OPEN SPACE PLAN NORTHGATE NHL FACILITY
” 34 KIDDER MATHEWS OFFERING MEMORANDUM NORTH SEATTLE OFFERING NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 35 NEARBY PROJECTS WITHIN 1 MILE RADIUS DEVELOPMENT BY PRODUCT TYPE WITHIN .25 MILE RADIUS OF NORTH SEATTLE OFFERING
Address Type Status Expected Completion Project Size
Total Projects 53 9701 Aurora Ave N Storage Planned TBD 227,000
Total SF by Status 4.4M TOTAL SF 9510 Stone Ave N Residential-83 Units Planned TBD 63,800 Completed (in Last 3 Years) 545K SF | 13 Projects 559 Apartment Units and 32 Condo Units Currently Under Construction 9414 Stone Ave N Residential-111 Units Planned TBD 42,520 362K SF | 11 Projects Planned 3.5M SF | 29 Projects 9320 Linden Ave N Residential-37 Units Planned TBD 10,202 Upcoming Projects 437,000 SF 2019 52,800 SF 2020 18,700 SF 2021/22 3.6M SF TBD 9217 Linden Ave N Residential-8 Units Planned TBD 7,960
New Residential 3,130 Units TOTAL (NEW) Units by Status 2,340 Units Planned 9545 Ashworth Ave N Residential-19 Units Under Construction 2020 10,638 200 Units Under Construction 591 Units Recently Completed
1109 N 92nd St Residential-23 Units Under Construction 2019 12,000 New Retail by Status 377,000 SF TOTAL 358,000 SF Planned 18,900 SF Recently Completed 9309 Aurora Ave N Storage Under Construction Mid 2019 148,000 New Office by Status 837,000 SF TOTAL 831,000 SF Planned 5,910 SF Under Construction 937 N 96th St Residential-100 Units Completed Completed 2019 55,637
New Hotel by Status 462 Keys TOTAL 155 Keys Planned 140 Keys Under Construction 714 N 95th St Residential-41 Units Completed Completed 2017 10,500 167 Keys Recently Completed
36 KIDDER MATHEWS OFFERING MEMORANDUM NORTH SEATTLE OFFERING NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 37 HALLER LAKE LAKE WASHINGTON DEVELOPMENTS WITHIN 0.25 MILE RADIUS OF NORTH SEATTLE OFFERING LAKE CITY
NORTHGATE NORTHWEST SEATTLE NORTHGATE MALL / FUTURE NHL ICE HOCKEY FACILITY
FUTURE NORTHGATE LIGHT RAIL STATION 5TH AVE NE (2021) 9701 AURORA AVE N MAPLE LEAF Storage 9545 ASHWORTH AVE N Residential | 19 Units GREENWOOD NE NORTHGATE WAY 9510 STONE AVE N Residential | 83 Units 9320 LINDEN AVE N GREENWOOD AVE N NORTH SEATTLE Residential | 37 Units COMMUNITY COLLEGE
937 N 96TH ST Residential | 100 Units
9217 LINDEN AVE N Residential | 8 Units 9414 STONE AVE N Residential | 11 Units LICTON SPRINGS
NORTH SEATTLE OFFERING
N 96TH ST 714 N 95TH ST Residential | 41 Units
N 92ND ST 9309 AURORA AVE N 1109 N 92ND ST Storage Residential | 23 Units
N
38 KIDDER MATHEWS OFFERING MEMORANDUM NORTH SEATTLE OFFERING NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 39 OWNER/USER SALE COMPARABLES 01
02 Address Type Size (SF) Sale Date Sale Price Price PSF
01 13741 Lake City Way NE IND 14,000 7/18/2018 $2,200,000 $157.14
02 13748 32nd Ave NE IND 6,207 7/18/2018 $1,200,000 $193.33
NORTHGATE PUGET SOUND 03 1110-1112 NW 50th St IND 3,000 1/31/2018 $1,100,000 $366.67 GREENWOOD NORTH SEATTLE OFFERING
8618 3rd Ave NW IND 5,570 4/29/2016 $1,550,000 $278.28 LAKE 04 WASHINGTON
04 05 1513 NW 46th St IND 4,118 7/8/2016 $850,000 $206.41 RAVENNA Magnuson Park 1100 NW 54th St Flex 4,627 1/31/2019 $1,725,000 $372.81 BALLARD GREEN 06 LAKE
06 07 4200 24th Ave W IND 4,920 9/15/2017 $1,600,000 $325.20 Woodland 03 Park U DISTRICT Discovery Park 07 05 SEATTLE
FREMONT
N LAKE UNION QUEEN ANNE 40 KIDDER MATHEWS OFFERING MEMORANDUM NORTH SEATTLE OFFERING NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 41 LAND SALES COMPARABLES
Address Sale Date Land Size Price Price PSF Zone LAKE WASHINGTON 9510 Stone Ave N 1/20/2016 15,246 $2,360,000.00 $154.79 C2-65 01 06 08 02 1109 N 92nd St 11/3/2017 3,920 $750,000.00 $191.33 C1-65 12
03 2000 NE 85th St 5/11/2016 22,231 $3,900,000.00 $175.43 C1-65 PUGET SOUND Carkeek Park GREENWOOD 7020 Greenwood Ave 7/13/2018 8,743 $2,400,000.00 $274.51 NC2-40 04 NORTHGATE NORTH SEATTLE 8111 Greenwood Ave 11/9/2017 7,443 $1,880,000.00 $252.59 NC2-40 OFFERING 05 07 10 06 2727 NE 125th St 4/19/2018 27,443 $4,950,000.00 $180.37 MR 01
02 MAPLE 07 10000-1022 Holman Rd 9/14/2017 32,670 $6,021,753.00 $184.32 C1-40 LEAF 09 14 13 08 12311-12327 32nd Ave NE 8/17/2018 27,168 $3,418,500.00 $125.83 NC3-85 11 03 05
09 8521 15th Ave NW 6/30/2017 13,600 $2,250,000.00 $165.44 NCP3-40
9736 Greenwood Ave N 4/30/2018 12,946 $2,050,000.00 $158.35 C1-40 10 RAVENNA
8501 15th Ave NW 1/9/2018 30,900 $5,710,000.00 $184.79 NCP3-40 GREEN 11 04 BALLARD LAKE
12 12004-12006 31st Ave NE 8/15/2018 11,021 $1,950,000.00 $176.93 LR3 RC
8517 Aurora Ave N 5/9/2019 18,870 $3,089,172.00 $163.71 C1-65 13 Woodland Park U DISTRICT 14 8599 NW Mary Ave 10/31/2016 16,117 $2,100,000.00 $130.30 NC3P-40 N
SEATTLE 42 KIDDER MATHEWS OFFERING MEMORANDUM NORTH SEATTLE OFFERING NORTH SEATTLE OFFERING OFFERING MEMORANDUM KIDDER MATHEWS 43 EXCLUSIVELY REPRESENTED BY
JASON ROSAUER 206.296.9608 [email protected]
ROB ANDERSON 206.296.9644 [email protected]
KEN HIRATA 206.296.9625 [email protected]
KRISTYN KRUEGER 206.398.2270 [email protected]
KIDDER.COM