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CENTRAL BUSINESS DISTRICT SOUTH LAKE UNION

LAKE UNION MARINE INDUSTRIAL OFFERING LAKE UNION

FAIRVIEW AVE E N

LAKE UNION MARINE INDUSTRIAL OFFERING

KIDDER.COM OFFERING MEMORANDUM | 1801 FAIRVIEW AVE E, SEATTLE | SEATTLEMARINEOFFERING.COM CONTACT

JASON ROSAUER 206.296.9608 [email protected]

DAVE SPEERS 206.296.9626 [email protected]

ROB ANDERSON 206.296.9644 [email protected]

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. 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. TABLE OF 01 CONTENTS EXECUTIVE SUMMARY 02 PROPERTY DESCRIPTION

03 LOCATION MAPS AND PHOTOS

04 SOUTH LAKE UNION MARKET INFORMATION

01 EXECUTIVE SUMMARY

SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 5 QUEEN ANNE

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6 KIDDER MATHEWS  OFFERING MEMORANDUM  SEATTLEMARINEOFFERING.COM PROPERTY OVERVIEW

Urban Marine Industrial Offering Property and Piers 1801 Fairview Avenue East Address Seattle, WA 98102 King Co. Tax 408880-2460; 408880-2462 Parcels Building Area 34,245 SF

Land Area 413,733 SF (9.50 acres) IG1 U/45 - General Industrial EXECUTIVE Zoning 1, 45' height limit, City of Seattle Current use as commercial Use SUMMARY marine moorage and shipyard

Over 2,400 linear feet of fully restored piers including power and water distribution within the piers

Over 370 linear feet of fully Kidder Mathews has been OFFERING SUMMARY restored wharf adjacent to the appointed exclusive listing agents 1801 Fairview is comprised of 9.50 office and warehouse buildings for the sale of 1801 Fairview acres of upland and Lake Union Avenue East in Seattle. submerged land area, the majority - 6.77 acres - of which is fee owned MARKETING PROCESS and the remainder - 2.73 acres - The property is offered on an as The following is an offering leased from the Washington State received offer basis, however memorandum detailing this Department of Natural Resources. ownership reserves the right to set a very rare urban marine industrial bid date at some point in the future. property, located in close proximity Improvements on the site include: to Seattle’s South Lake Union technology cluster, including the 34,245 SF of building area OFFER PRICING world headquarters of Amazon.com - 17,105 SF two story office 1. Option 1 - Entire Property - and major tenancies by Google, Face structure $45 MILLION Book, Microsoft, Fred Hutchison Cancer Research Center, University - 17,140 SF warehouse 2. Option 2 - Portion of Property of Washington Life Sciences and including mezzanine, clear- (e.g. warehouse with wharf and many other technology and life span with approximately pier approximately 4.34 acres) - sciences companies. 20’ ceiling $18.5 MILLION

SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 7 LOT SEGREGATION OPTIONS

39,496 SF

58,490 SF B A 91,000 SF 49,000 SF

37,000 SF 120,000 SF

SAMPLE OPTION A SAMPLE OPTION A

39, 496 SF UPLANDS WITH WAREHOUSE 49,000 SF UPLANDS WITH OFFICE BUILDING 91,000 SF OF SUBMERGED FEE-OWNED LAND WITH PIER 2 AND WHARF 120,000 SF OF SUBMERGED FEE-OWNED LAND WITH PIER 1 AND WHARF 58,900 SF OF SUBMERGED DNR OWNED LAND 37,000 SF OF SUBMERGED DNR OWNED LAND

8 KIDDER MATHEWS  OFFERING MEMORANDUM  SEATTLEMARINEOFFERING.COM QUEEN ANNE

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FAIRVIEW AVE E SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 9

02 PROPERTY DESCRIPTION

SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 11 UNIVERSITY CAPITOL DISTRICT HILL

EASTLAKE

FAIRVIEW AVE E

N LAKE UNION MARINE INDUSTRIAL OFFERING

12 KIDDER MATHEWS  OFFERING MEMORANDUM  SEATTLEMARINEOFFERING.COM PROPERTY DESCRIPTION

DNR Lease Terms MAXIMUM BUILDING HEIGHT - 45 feet 1801 Fairview Avenue East is a 2 AREAS of leasehold submerged land area marine industrial property located MAXIMUM SIZE 10,000 s.f. for retail, service, on Lake Union, Seattle’s renown entertainment, and office uses; 5,000 s.f. for LEASE 1 - 64,105 SF of freshwater lake. submerged land at the ends of restaurants; 3,000 s.f. for bars Piers 1 & 2 - see exhibit at the FAR 2.6 end of this section LOCALITY PARKING Required Lake Union is adjacent to one of 30-YEAR LEASE commenced the most active technology clusters March 1, 2014 at an annual - 1/1,500 s.f. for manufacturing in the United States, including THE ASSET lease rate of $17,197 or $.268/ - 1/1,500 for warehousing headquarters and major branch 1801 Fairview offering includes the sq. ft / year. This rate is adjusted locations of: following property features: annually for inflation and - 2.86/1,000 for office revalued every four years. - 1/1,500 for showroom AMAZON.COM - 8 million SF Overview LEASE 1 - Waterway permit - 1/350 for retail GOOGLE - 1 million SF 9.5 ACRES - 413,733 SF of total for 54,832 SF of submerged land area land area along Pier 1. The UM OVERLAY relates to water-dependent/ FACEBOOK - 900,000 SF 5-year permit commenced on water-related uses of industrial and commercial Fee Owned Land Area March 1, 2014, and renewed shorelines. The UM overlay may further restrict FRED HUTCHISON CANCER February 2019 for an additional the scope of development on the property RESEARCH CENTER - 1.1 6.77 ACRES - 294,796 SF of fee 5-year term, at an annual fee of million+ SF owned land area comprised of - Non-water dependent uses limited to 20% of $14,709.29 or $.268 / SF / year. the uplands BILL AND MELINDA GATES - 2.03 acres - 87,265 SF of The lease is adjusted annually FOUNDATION - 640,000 SF uplands area for inflation and revalued every - Commercial uses such as restaurants limited - 4.76 acres - 207,531 SF of four years. to 10% of the uplands CHILDREN’S HOSPITAL Research submerged land area - Maximum building height reduced to 35’ Facilities PROPERTY ZONING Submerged Leased Land Area - Site coverage 75% of the uplands, 50% of UNIVERSITY OF WASHINGTON GENERAL INDUSTRIAL 1 - submerged land area except an additional 2.73 ACRES - 118,937 SF Life Science Complex IG1 U/45 - City of Seattle 25% coverage allowed for dry docks. of submerged land area See the South Lake Union leased from the Washington ZONING created to protect - View corridor 15% of lot width if water- Development Pipeline aerial (see State Department of Natural industrial and marine uses dependent uses occupy over 40% of the section 4). Resources (“DNR”) within the city. uplands

SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 13 BUILDINGS ON THE PROPERTY - 34,245 SF TOTAL

OFFICE

17,105 SF in two stories

FULLY RENOVATED by current ownership in 2015

PILE FOUNDATION, with wood frame construction

FLAT membrane roof

ROOFTOP HVAC units

WAREHOUSE

17,140 SQUARE FEET including mezzanine

APPROXIMATELY 12, 000 sq. ft. of main floor

APPROXIMATELY 5,140 sq. ft. of mezzanine storage

CLEAR SPAN building with no column supports

TILT concrete construction

14 KIDDER MATHEWS  OFFERING MEMORANDUM  SEATTLEMARINEOFFERING.COM MARINE AMENITIES

PIER 1

APPROXIMATELY 1,260 lineal feet

PIER totally rebuilt in 2015-16 with new power and water risers within the pier

PIER 2

APPROXIMATELY 1,235 lineal feet

PIER totally rebuilt in 2015-16 with new power and water risers within the pier

WHARF

APPROXIMATELY 2,370 lineal feet

WHARF totally rebuilt in 2015-16

SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 15 PARCEL MAP United States Seafoods KM Job A19-0551

16 KIDDER MATHEWS  OFFERING MEMORANDUM  SEATTLEMARINEOFFERING.COM Parcel Map (Fee Owned Parcels)

Kidder Mathews Summary of Appraisal Valuation Advisory Services Page 5

SITE PLAN United States Seafoods KM Job A19-0551

SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 17 Preliminary Site Plan

Kidder Mathews Property Description Valuation Advisory Services Page 44

PROPERTY LAYOUT United States Seafoods KM Job A19-0551

Property Layout

18 KIDDER MATHEWS  OFFERING MEMORANDUM  SEATTLEMARINEOFFERING.COM

Kidder Mathews Property Description Valuation Advisory Services Page 52

United States Seafoods OFFICE FLOOR PLAN KM Job A19-0551

USS 7,511 SF

USS 2,092 SF

TOTAL: 14,227 SF Office Floor Plan

SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 19

Kidder Mathews Property Description Valuation Advisory Services Page 53

WAREHOUSE LAYOUT United States Seafoods KM Job A19-0551

20 KIDDER MATHEWS  OFFERING MEMORANDUM  SEATTLEMARINEOFFERING.COM Warehouse Floor Plan

Kidder Mathews Property Description Valuation Advisory Services Page 54

PIER LENGTHS

SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 21 DEPTH SOUNDINGS

22 KIDDER MATHEWS  OFFERING MEMORANDUM  SEATTLEMARINEOFFERING.COM QUEEN ANNE

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SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 23 OFFICE INTERIOR PHOTOS

24 KIDDER MATHEWS  OFFERING MEMORANDUM  SEATTLEMARINEOFFERING.COM WAREHOUSE INTERIOR PHOTOS

SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 25

03 LOCATION MAPS AND PHOTOS

SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 27 BIRD'S EYE VIEW

E BOSTON ST

EASTLAKE

E NEWTON ST 10TH AVEE

E HOWE ST

LAKE UNION MARINE INDUSTRIAL OFFERING LAKE

UNION FAIRVIEW AVE E AVE FAIRVIEW

E GALER ST

CAPITOL HILL

N

28 KIDDER MATHEWS  OFFERING MEMORANDUM  SEATTLEMARINEOFFERING.COM GREEN LAKE BALLARD

WALLINGFORD UNIVERSITY DISTRICT

FREMONT MAGNOLIA

QUEEN ANNE LAKE LAKE UNION UNION MARINE INDUSTRIAL OFFERING BELLEVUE

SLU CAPITOL HILL

CENTRAL CENTRAL BUSINESS DISTRICT LAKE DISTRICT WASHINGTON

PUGET SOUND

MERCER N SODO ISLAND MOUNT BAKER

WEST SEATTLE SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 29 AERIAL

SEATTLE CENTRAL BUSINESS DISTRICT SOUTH LAKE UNION

LAKE UNION MARINE INDUSTRIAL OFFERING LAKE UNION

FAIRVIEW AVE E N

30 KIDDER MATHEWS  OFFERING MEMORANDUM  SEATTLEMARINEOFFERING.COM QUEEN ANNE

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SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 31

04 SOUTH LAKE UNION MARKET INFORMATION

SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 33 SEATTLE CENTRAL BUSINESS DISTRICT SOUTH LAKE UNION

LAKE UNION MARINE INDUSTRIAL LAKE OFFERING UNION

FAIRVIEW AVE E N

34 KIDDER MATHEWS  OFFERING MEMORANDUM  SEATTLEMARINEOFFERING.COM SOUTH LAKE UNION MARKET INFORMATION

Other world-class technology firms that have large operations in 1801 FAIRVIEW NEIGHBORHOOD the South Lake Union submarket The subject property is located include nearly 900,000 square feet near the middle of the Eastlake of Facebook offices, about 1 million Commercial projects in the planning stage include: neighborhood that is defined by square foot of Google campus, Interstate 5 to the east, Mercer 660,000 square foot new Apple OVER 800,000 SF of office space Street to the South and Lake Union complex, and scores of other life SOUTH LAKE UNION to the west and north. Relative to sciences and high technology firms. 400,000 SF of retail space office uses on site, the Eastlake Since the early 2000’s, Seattle’s neighborhood is part of the larger South Lake Union submarket has In addition to this technology NEARLY 12,000 apartment units South Lake Union submarket. evolved into what is now the most explosion in the South Lake Union dynamic technology cluster in submarket there are: 266 condo units 1801 Fairview is located along America. Over the past 15 years OVER 700 hotel units the west side of Fairview Avenue major technology companies have NEARLY 21,000 multifamily units completed or under East, one of two main north- originated in the SLU market, such Adjacent to all the above, the Washington State construction south thoroughfares with the as Amazon.com, Fred Hutchison Convention Center is undergoing a $1.7 billion neighborhood. The other is Cancer Research Center, Tableau 5.5 MILLION SF of non- expansion that will add over 1.4 million square feet Eastlake Avenue East one block east Software, Allen Institute brain technology office space to the existing 415,000 convention center. Adjacent of the subject and accessible via E. research center, a large cluster to that expansion multi-family and hotel projects will Newton St to the north or E. Blaine of the University of Washington ABOUT 1,000 condominium be constructed on the convention center site. St. to the south. Eastlake East is the Life Sciences facilities, the Bill units completed or under main connecting arterial between and Melinda Gates foundation construction Seattle’s South Lake Union is one of the dominate the University of Washington, headquarters, Seattle Children’s centers of commercial activity, employment creation adjacent to the north end of Lake Hospital pediatric research labs, OVER 2,200 units of hotel and revenue generating regions in the nation. 1801 Union, and the dynamic South Lake and a major satellite campus for rooms completed or under Fairview benefits from its adjacency to this extraordinary Union submarket. Microsoft. development commercial concentration in South Lake Union.

SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 35 SOUTH LAKE UNION PIPELINE

BOREN AVE PROJECT TYPE* 43 17 Apartment - 20,646 Units 29 27 18 5,440,797 SF PIKE ST 07 22 Office - 05 08 Condo - 982 Units 12 2,234 Rooms PINE ST 23 18 BATTERY ST 30Hotel - 30 21 33 16 WESTLAKE AVE 17 Life Science/Medical - 950,441 SF 02 11 19 OLIVE WAY 34 07 Convention Center - 1,500,000 SF 50 6TH AVE 53 BELL20 ST 07 7TH AVE 06 20 34 VIRGINIA ST 04 13 PROJECT STATUS 25 STEWARTDENNY ST WAY 36 51 01 Completed 01 33 47 46 JOHN ST 01 Under Construction 37 06 42 49 52 05 03 08 23 01 Planned Project 31 32 THOMAS ST 12 BROAD ST 25 10 22 14 HARRISON ST 28 48 10 11 08 02 14 01 35 9TH AVE 11

8TH AVE N 13 REPUBLICAN ST 15

16 04 28 TERRY AVE N AVE TERRY 44 N AVE TERRY 54 14 MINOR AVE N 01 YALE AVE N PONTIUS AVE N BOREN AVE N MERCER ST 55 38

FAIRVIEW AVE N 12 ROY ST 37 05 04 36 45 02 VALLEY ST 21 19

WESTLAKE AVE N

AURORA AVE N ALOHA ST 57 DEXTER AVE N

6TH AVE N

TOTAL PLANNED DEVELOPMENT* 18

Office Space 817,511 SF LAKE Retail Space 400,230 SF AMAZON | 7,944,766 SF* UNION 56 Apartment 11,782 Units Owned Leased 41 Condo 266 Units GOOGLE / FACEBOOK Construction Hotel 735 Keys Future Sites Facebook - 871,176 SF 929,000 SF *Includes only proposed *Overall Seattle footprint Google -

Q4 2019 Note: The above are graphical respresentations only. Source: Kidder Mathews Research, City of Seattle, Daily Journal of Commerce, CoStar, and Puget Sound Business Journal

36 KIDDER MATHEWS  OFFERING MEMORANDUM  SEATTLEMARINEOFFERING.COM COMPLETED PROJECTS UNDER CONSTRUCTION 01 Even Hotel & Staybridge 14 Chroma SLU 27 Arrivé 01 Fairview Block 13 Seattle Times - North Site Suites 1212 Harrison St 2116 4th Ave 425 Fairview Ave N 1120 527 Fairview Ave N Holland Partner Group Path America Greystar Dvlpt. Onni Group InterContinental Hotels Apartment Apartment (w/hotel) Apartment Apartment Group Moxy Hotel UW Medicine Phase I 700 Dexter 408 Aurora Hotel 15 28 02 14 1016 Republican Ave 500 Dexter Ave N 700 Dexter Ave N 408 Aurora Ave N 02 400 Dexter Stonebridge Cos UW Medicine BioMed Realty Trust, Inc. Trent Development 400 Dexter Ave N Hotel Life Science/Medical Office Apartment Alexandria Real Estate 1210 Republican 1901 Franklin* Rainier Square* 2&U* Office 16 29 03 15 1210 Republican St 1901 Franklin Ave E 411 Union St 1201 2nd Ave 03 Cascade II Koz Dvlpt. Legacy Group Capital Wright Runstad & Co. Skanska 221 Minor Ave N Apartment Apartment Office (w/ apartment & Office Equity Residential 8th & Howell Avalon Belltown Towers retail) Apartment 17 30* 16 Tower 807 Stewart St 210 Wall St 04 Block 25 1200 Howell St 525 Boren 04 RC Hedreen Co. AvalonBay Communities 630 Boren Ave N Burrard Group 525 Boren Ave N Hotel Apartment Vulcan Inc. Condo Wilshire Capital Partners Residence Inn Arbor Blocks East Apartment Apartment 18 31 17 1622 Aurora* 924 Howell St 300 8th Ave N 05 Google 1622 Aurora Ave N 9th & Thomas 05 Stonebridge Cos Vulcan Inc. 609 Fairview Ave N Guide Property Services 234 9th Ave N Hotel Office Vulcan Inc. Apartment 9th & Thomas Partners 8th & Blanchard Arbor Blocks West Office Office 19 32 18 1001 Westlake 2202 8th Ave 333 8th Ave N 06 1001 Westlake Ave N 2nd & Pine* 06 Clise Properties Vulcan Inc. 1200 Stewart St 1001 Westlake Partners, 204 Pine St Apartment Office Westbank Corp. LLC Equity Residential Orion Apartment Hotel Apartment 20 33 111 Terry Ave N 910 John St AMLI Arc 07 07 Holland Partner Group Vulcan Inc. 600 Wall St 1800 Boren Ave Apartment Apartment Vanke/Laconia AMLI Residential Prop- Children’s Hospital Condo erties 21 34 Expansion Apartment 2101 9th Ave 08 400 Westlake GID Dvlpt. Group 1920 Terry Ave 400 Westlake Ave N 08 Cascade II Apartment Seattle Children’s Martin Selig Real Estate 222 Fairview Ave N Life Science/Medical Life Science/Office Equity Residential 22 Amazon Spheres 2303 Franklin* Apartment 2101 7th Ave 35 09 1600 Dexter* Seneca Real Estate Group 2303 Franklin Ave E 1600 Dexter Ave N 09 2037 Yale* Office (w/ retail) Rudd Development Stream Real Estate Devel- 2037 Yale Ave N Company opment & Investment Blueprint Capital 23 Apartment Apartment Apartment 1823 Minor Ave Security Properties 36 Block 31 - North Building 403 Dexter Sitka 10 10 Apartment 1021 Valley St 403 Dexter Ave N 1255 Harrison St Vulcan Inc. Wilshire Capital Partners Vulcan Inc. 24* Leeward Apartments Office 1319 Dexter Ave N Apartment Apartment Block 31 - South Building Shea Properties 37 11 2227 Yale* Marlowe 1000 Mercer St 11 Apartment 2227 Yale Ave E 1146 Harrison St Vulcan Inc. Marc Coluccio Greystar 25 Troy Block - North Office 399 Fairview Ave N Apartment Apartment The Atrium* Touchstone Corp. 38 12 333 Dexter 12 624 Yale 1818 Fairview Ave E Office 333 Dexter Ave N 624 Yale Ave N Alexandria Real Estate Kilroy Realty Corp. Blume Co. 26 Western Yacht Harbor* Equites, Inc. Office Apartment 2412 Westlake Ave N Office Westlake Yacht Harbor/ Compass 13 CBRE 503 Westlake Ave N Office Grainger Office

SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 37 PLANNED PROJECTS 01 1001 John 14 Block 38 26 2031 Westlake* 38 Mod Studios 51 1370 Stewart 1001 John St 520 Westlake Ave N 2031 Westlake Ave N 601 Aurora Ave N 1370 Stewart St Mack Urban Vulcan Inc. The Midby Companies Pong’s Corp. Arbutus Properties Apartment Office Apartment Apartment Apartment 02 1121 Stewart 15 1601 Dexter* 27 3138 Fairview* 39 1402 Aurora* 52 219 Terry 1121 Stewart St 1601 Dexter Ave N 3138 Fairview Ave E 1402 Aurora Ave N 219 Terry Ave N RBF Property Group Wang Brothers Invest- Shilshole Development Giang Vo Alexandria Real Estate Hospitality (w/ apartment, ments Apartment Apartment Equities office, & retail) Apartment Office 28 330 Yale 40 Fremont NorthShore* 03 1920 Eastlake* 16 2617 Franklin* 330 Yale Ave N 1326 N Northlake Way 53 1305 Stewart 1920 Eastlake Ave E 2617 Franklin Ave E Unico Properties Blue Rooster 1305 Stewart St Aegis Living Rudd Development Com- Office Office Arbutus Properties pany Inc Apartment - Senior Living Convention Ctr Expansion Dexter North Office Apartment 29 41 04 121 Boren 920 Olive Way 1115 Dexter Ave N 54 601 Dexter 121 Boren Ave N 17 BB6 WA State Convention Ctr. Capstone Partners 601 Dexter Ave N H5 Capital 2326 6th Ave Convention Center Apartment Alexandria Real Estate HB Capital Equities Apartment Crescent Heights 9th & John Apartments Condo 30 42 Life Science 05 1800 Terry 1901 Minor Ave 820 John St 1800 Terry Ave 18 6th & Bell Data Center Crescent Heights Living Pillar Properties 55 615 Dexter Seawest Investments 2229 6th Ave Apartment Apartment 615 Dexter Ave N Clise Properties Alexandria Real Estate Apartment 2334 Franklin* 8th & Pine Office 31 43 Equities 201 Westlake 06 2334 Franklin Ave E 802 Pine St Apartment 201 Westlake Ave 19 Allen Brain Institute Build Urban Fana Capitol Corp. CitizenM Expansion Apartment Apartment 56 Highland Lofts 707 Westlake Ave N 1114 Aurora Ave N Hotel 1150 Eastlake 1170 Republican 32 44 Stockbridge Capital 2014 Fairview Vulcan Inc. 07 Life Science/Medical 1150 Eastlake Ave E 1170 Republican St Group 2014 Fairview Ave Alexandria Real Estate Plus Investment USA Apartment Bosa Properties 20 Block 5 Equities Apartment 2301 7th Ave 57 753 9th Apartment Office 971 Valley Onni Group 45 753 9th Ave N 2121 5th Pivot 08 Apartment 33 971 Valley St Vulcan Inc. 2121 5th Ave 1208 Pine St Vulcan Inc. Hotel Tsang Enterprises 21 Allen Brain Institute Tiscareno Associates Apartment Expansion Apartment (w/ retail and Apartment Cloud Tower 701 9th Ave N office) 46 09 3031 Western Apts* 222 Dexter Ave N Vulcan Inc. 2300 8th 3031 Western Ave Life Science/Medical 34 Gemdale USA Martin Selig Real Estate 2300 8th Ave Apartment 901 Harrison North America Asset Apartment 22 200 8th 901 Harrison St Mgmt. Group 47 10* 307 Broad MacFarlane Partners Apartment 200 8th Ave N 307 Broad St Greystar Apartment Block 56 NE Connell Real Estate & 35 Apartment Amazon Campus HQ Dvlpt. 23 433 8th Ave N 48 401 8th Apartment Hotel Vulcan Inc. 300 Terry Ave N Apartment 401 8th Ave N 427 9th 11 Stanford Hotels Vulcan Inc. 36 110 9th 427 9th Ave N Hotel Apartment 110 9th Ave N Modern Land Holdings 24 Ballard Blocks 2* Vulcan Inc. 49 LLC Condominium Apartment 4517 14th Ave NW Apartment Principal Group 1613 2nd Ave 4th & Bell Onni Towers - Phase II 12 Office 37 Create World 2302-2316 4th Ave 1120-1122 John St Apartment Block 48 Onni Group TeamRise /Carlton Dvlpt. 25 2019 Boren Apartment 111 Westlake Ave N Apartment 50 Vulcan Inc. 2019 Boren Ave N 1405 Dexter* 13 Office Holland Partner Group 1405 Dexter Ave N Apartment Intracorp Real Estate Apartment

38 KIDDER MATHEWS  OFFERING MEMORANDUM  SEATTLEMARINEOFFERING.COM QUEEN ANNE

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FAIRVIEW AVE E SEATTLEMARINEOFFERING.COM  OFFERING MEMORANDUM  KIDDER MATHEWS 39 EXCLUSIVELY REPRESENTED BY

JASON ROSAUER 206.296.9608 [email protected]

DAVE SPEERS 206.296.9626 [email protected]

ROB ANDERSON 206.296.9644 [email protected]

KIDDER.COM