1110 ELLIOTT SITE Future Development Opportunity with Easy Access to Seattle CBD & Adjacent to Expedia’S 40-Acre Headquarters
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ELLIOTT BAY 1110 ELLIOTT AVE W ELLIOTT AVE W NEW HEADQUARTERS 1110 ELLIOTT SITE Future Development Opportunity with Easy Access to Seattle CBD & Adjacent to Expedia’s 40-Acre Headquarters OFFERING MEMORANDUM | SEATTLEINTERBAYSITE.COM CONTACT JASON ROSAUER 206.296.9608 [email protected] ROB ANDERSON 206.296.9644 [email protected] KRISTYN KRUEGER 206.398.2270 [email protected] 1110 ELLIOTT AVE W KIDDER.COM 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 available to any other person or entity without the written consent of Kidder Mathews. ELLIOTT AVE W This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence 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 substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the 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 from sources we believe to be reliable; however, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews conducted any investigation regarding these 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 information and bears all risk for any inaccuracies. 01 INVESTMENT SUMMARY The Offering Offering Process TABLE OF Investment Highlights CONTENTS 02 PROPERTY DESCRIPTION Property Summary Zoning Information 03 LOCATION OVERVIEW Location Highlights Aerials Neighborhood Amenities Major Employers Demographics Transportation 04 MARKET OVERVIEW Puget Sound Review Top Puget Sound Employers QUEEN ANNE 1110 ELLIOTT AVE W ELLIOTT AVE W DOWNTOWN SEATTLE 01 EXECUTIVE SUMMARY THE OFFERING OFFERING PROCESS INVESTMENT HIGHLIGHTS SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS 5 QUEEN ANNE DOWNTOWN SEATTLE EXPEDIA BRIDGE 1110 ELLIOTT AVE W ELLIOTT AVE W NEW HEADQUARTERS BNSF RAILROAD 6 KIDDER MATHEWS OFFERING MEMORANDUM SEATTLEINTERBAYSITE.COM EXECUTIVE SUMMARY industrial, restaurant, among others. With Expedia already underway transitioning three to four thousand Kidder Mathews is pleased to this offering presents an incredible of their employees into the strongest employment growth including Amazon, present the opportunity to acquire future development opportunity. neighborhood, thousands of new Apple, Google, F5 networks amongst several other the 1110 Elliott Site located in Enjoying expansive views of apartment units recently completed world leading tech giants that are rapidly expanding Seattle’s Interbay neighborhood. Seattle’s Elliott Bay, easy access to along the Elliott/15th corridor, and in South Lake Union. This job growth, combined with Seattle’s Central Business District, a rapidly expanding downtown Seattle’s robust transportation system via bus and and situated amidst tremendous business district, the property is incoming light rail station that will include an Interbay job growth and vibrant industry well-positioned to absorb the influx THE OFFERING stop, the 1110 Elliott Site offers a prospective buyer leaders, this offering is truly a core of demand and will benefit from any an exceptional opportunity to acquire core real estate Kidder Mathews is pleased to opportunity with significant upside future development. with immense upside in one of the world’s strongest present the opportunity to acquire potential. markets. the 1110 Elliott Site located in Located less than five minutes from Seattle’s Interbay neighborhood. Currently operated as a parking lot, downtown and bordered by Seattle’s Positioned off of the highly trafficked the 1110 Elliott Site includes 29,176 affluent Magnolia neighborhood to OFFERING PROCESS Elliott Avenue West corridor SF of land located in Seattle’s newly the west and Queen Anne to the The 1110 Elliott Site is being offered for sale unpriced. connecting Ballard, Queen Anne, up-zoned Industrial Commercial (IC- east, the Interbay neighborhood The ownership will review and respond to offers as and Magnolia to Seattle’s CBD 65’ M) zone allowing for a larger, is positioned in the heart of much submitted while reserving the right to call for offers and directly across from Expedia’s dense project with numerous of the region’s growth. The 1110 at a later date. Additional information can be found brand new 40-acre headquarters, potential end uses including office, Elliott Site is within minutes to the online at www.SeattleInterbaySite.com SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS 7 MAGNOLIA ELLIOTT BAY NEW HEADQUARTERS BNSF RAILROAD 40 600K+ 900M+ 8K+ ACRES TOTAL SF DEVELOPMENT BUDGET EMPLOYEES 8 KIDDER MATHEWS OFFERING MEMORANDUM SEATTLEINTERBAYSITE.COM INVESTMENT HIGHLIGHTS EXPEDIA’S NEW HEADQUARTERS Located directly across the street, Expedia’s brand new $900M campus stretches over 40 acres with more than 600,000 SF and PROXIMITY TO TOP TIER the ability to eventually house more EMPLOYERS than 8,000 employees. Transition Seattle’s positive job growth and into the new campus has just begun tremendous population growth, with full occupancy to take place by up more than 70% since 2010, is August 2020 upon completion of ROBUST NEIGHBORHOOD WITH EXCELLENT DEMOGRAPHICS largely attributed to the expanding the campus’ second phase. real estate footprint of several of With approximately 1,340 the world’s leading technology STRONG REGIONAL ECONOMIC residential units recently completed UNPARALLELED VISIBILITY AND employers including Amazon, OUTLOOK and an additional 2,107 units GREAT ACCESS OFF HEAVILY Apple, Facebook, and Google, with Named as the nation’s top market in the pipeline within a 1-mile TRAFFICKED ARTERIAL Expedia and F5 Networks located in by Urban Land Institute, Seattle radius, the surrounding area will Once known for its railroad and close proximity along Elliott Avenue continues to garner significant continue to densify as the Seattle manufacturing roots, Seattle’s West. In addition, the South Lake attention from employers and market continues to grow and highly trafficked Elliott Corridor runs Union neighborhood, is underway developers all over due to its job expand outward bringing with it a along the waterfront and connects to house a new office for Google opportunities, rapid population well-educated and highly-skilled the Interbay neighborhood to totaling over 600K SF as well as growth, innovation, educated labor force. downtown Seattle. Positioned Apple who has plans totaling 630K employment base, and nation right off of Elliott Ave, the property SF in two 12-story office towers. leading rent and job growth. Leading offers excellent access to any EXCEPTIONAL VIEWS OF THE These large developments as well the way for much of the country, future development as well as PUGET SOUND as the several smaller projects in Seattle continues to experience exceptional visibility to the 55,000 Located within blocks of Elliott Bay, the pipeline will continue to bring unprecedented economic growth daily commuters the Elliott Corridor any future development will benefit a large influx of population and conveying its economic longevity now brings. from expansive waterfront views. growth to the area. for the foreseeable future. SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS 9 QUEEN ANNE 1110 ELLIOTT AVE W D LINE + 7 ADDITIONAL SEATTLE TRANSIT BUS ROUTES ELLIOTT AVE W DOWNTOWN SEATTLE 02 PROPERTY DESCRIPTION PROPERTY SUMMARY ZONING INFORMATION SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS 11 QUEEN ANNE 1110 ELLIOTT AVE W D LINE + 7 ADDITIONAL SEATTLE TRANSIT BUS ROUTES ELLIOTT AVE W 55K/DAY Traffic Count 12 KIDDER MATHEWS OFFERING MEMORANDUM SEATTLEINTERBAYSITE.COM PROPERTY SUMMARY Property Name 1110 Elliott Site Address 1110 Elliott Ave W Parcel 6169901775 PROPERTY Land SF 29,176 Zone IC-65’ (M) Urban Village Overlay Ballard-Interbay-Northend DESCRIPTION Est Tree Canopy Coverage 55.5% 40% Steep Slope Yes The property fronts Elliott Avenue West, directly across from Expedia’s Frequent Transit Area Yes new Headquarter campus, on Elliott PROPETY DETAILS Bay. The property is mostly level and POTENTIAL MASSING The 1110 Elliott Site is located consists of a 29,176 SF rectangular Zone IC-65' (M) on Elliott Avenue West, in close lot with the southwestern portion proximity to Seattle’s principal utilized as a parking lot, currently Max FAR 2.75 financial districts, the Lower Queen leased