{"id":1004288957,"date":"2019-01-02T06:52:14","date_gmt":"2019-01-02T14:52:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004288957"},"modified":"2022-12-08T20:15:12","modified_gmt":"2022-12-09T04:15:12","slug":"seattles-original-rainier-brewery-gets-new-owners","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/","title":{"rendered":"Seattle\u2019s Original Rainier Brewery Gets New Owners"},"content":{"rendered":"<p>By Gail Kalinoski<\/p>\n<div id=\"attachment_1004288963\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Original-Rainier-Brewery_Seattle-e1546440499553.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004288963\" data-attachment-id=\"1004288963\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/skb-original-rainier-brewery\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Original-Rainier-Brewery_Seattle-e1546440499553.jpg\" data-orig-size=\"845,634\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;SKB&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;SKB and Reinsurance Group of America (RGA) acquire the Original Rainier Brewery, a mixed\\u2013use property in the revitalized Georgetown neighborhood of Seattle.&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;SKB - Original Rainier Brewery&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"SKB &#8211; Original Rainier Brewery\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Original Rainier Brewery&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Original-Rainier-Brewery_Seattle-e1546440499553.jpg?w=845\" class=\"wp-image-1004288963 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Original-Rainier-Brewery_Seattle-e1546440499553.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Original-Rainier-Brewery_Seattle-e1546440499553.jpg 845w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Original-Rainier-Brewery_Seattle-e1546440499553.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Original-Rainier-Brewery_Seattle-e1546440499553.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004288963\" class=\"wp-caption-text\">Original Rainier Brewery<\/p><\/div>\n<p>Portland-based ScanlanKemperBard is adding to its Seattle area holdings, this time teaming with ReCap Real Estate Investment to acquire the Original Rainier Brewery, a historic mixed-use property in the city\u2019s Georgetown industrial neighborhood, from Sabey Corp.<\/p>\n<p>The property has 187,477 square feet of rentable space and consists of four brick and timber structures \u2013 the Bottling Plant, Malt House, Brew House\/Warehouse and General Office. It was built in the early 1900s to house the Seattle Brewing and Malting Co., a predecessor to the Rainier Brewing Co.<\/p>\n<p>Owned by Sabey since October 2006, the property is 92 percent leased and has more than 50 tenants including Patagonia, KEEN Footwear, REIT and Elysian Brewing Co. Another tenant, Fran\u2019s Chocolates, took 32,000 square feet in 2016, for a factory, office, store, customer viewing area and tasting and events area.<\/p>\n<p>When Sabey purchased the 5.5-acre site in 2006, company officials said they planned to redevelop the property and preserve the historic landmark buildings with structural upgrades. SKB said it plans to make further improvements, while also maintaining the historic integrity. The buildings were declared Seattle Historic Landmarks in 1993.<\/p>\n<p><em>\u201cThis is the fourth acquisition for our Urban Industrial platform. We see an untapped demand for local and regional manufacturers. The Original Rainier Brewery asset fits this profile,\u201d<\/em> SKB President Todd Gooding said in a prepared statement.<\/p>\n<p>This is SKB\u2019s second purchase in the Seattle region in recent months. SKB, a real estate merchant banking firm that has originated total portfolio activity of $4.3 billion since its 1993 inception, acquired a seven-story office building in the Bellevue, Wash., submarket in October. The firm paid $111 million for the 110 Atrium Building, a Class A office property.<\/p>\n<h2><strong>SKB Portland Properties<\/strong><\/h2>\n<p>In August, SKB <a href=\"https:\/\/www.commercialsearch.com\/news\/skb-whirep-acquire-25m-portland-mixed-use-property\/\">purchased the Water Tower Complex<\/a>, a Class A mixed-use office and retail property in Portland\u2019s John\u2019s Landing neighborhood, for $24.8 million in a joint venture with WHI Real Estate Partners. The property has two buildings totaling 123,188 square feet and was 93 percent leased at the time of the acquisition. Also an historic property, the Water Tower Complex was constructed in 1903 as a furniture warehouse and redeveloped in the 1970s as a retail marketplace. In 2008, a new owner added offices to the mix.<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/ch2m-center-lands-hefty-recapitalization\/\">CH2M Center,<\/a> a 226,815-square-foot Class A office tower, is one of SKB\u2019s other Portland assets. In December 2017, SKB recapitalized the 10-story office building, located in Portland\u2019s South End Innovation District, in a new joint venture with funds managed by Oaktree Capital Management LP.&nbsp;<\/p>\n<p><em>Image courtesy of ScanlanKemperBard<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ScanlanKemperBard and ReCap Real Estate Investment purchased the historic mixed-use property that is home to more than 50 tenants in Seattle\u2019s industrial Georgetown neighborhood.<\/p>\n","protected":false},"author":1068,"featured_media":1004288963,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21752,21742,1610,15],"tags":[43550,35381],"class_list":["post-1004288957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-mixed-use","category-latest","category-seattle","category-west","tag-sabey-corp","tag-scanlankemperbard"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Seattle\u2019s Original Rainier Brewery Gets New Owners - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seattle\u2019s Original Rainier Brewery Gets New Owners\" \/>\n<meta property=\"og:description\" content=\"ScanlanKemperBard and ReCap Real Estate Investment purchased the historic mixed-use property that is home to more than 50 tenants in Seattle\u2019s industrial Georgetown neighborhood.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-02T14:52:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T04:15:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Original-Rainier-Brewery_Seattle-e1546440499553.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"845\" \/>\n\t<meta property=\"og:image:height\" content=\"634\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/\",\"name\":\"Seattle\u2019s Original Rainier Brewery Gets New Owners - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Original-Rainier-Brewery_Seattle-e1546440499553.jpg\",\"datePublished\":\"2019-01-02T14:52:14+00:00\",\"dateModified\":\"2022-12-09T04:15:12+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Original-Rainier-Brewery_Seattle-e1546440499553.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Original-Rainier-Brewery_Seattle-e1546440499553.jpg\",\"width\":845,\"height\":634,\"caption\":\"Original Rainier Brewery\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Seattle\u2019s Original Rainier Brewery Gets New Owners\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Seattle\u2019s Original Rainier Brewery Gets New Owners - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/","og_locale":"en_US","og_type":"article","og_title":"Seattle\u2019s Original Rainier Brewery Gets New Owners","og_description":"ScanlanKemperBard and ReCap Real Estate Investment purchased the historic mixed-use property that is home to more than 50 tenants in Seattle\u2019s industrial Georgetown neighborhood.","og_url":"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2019-01-02T14:52:14+00:00","article_modified_time":"2022-12-09T04:15:12+00:00","og_image":[{"width":845,"height":634,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Original-Rainier-Brewery_Seattle-e1546440499553.jpg","type":"image\/jpeg"}],"author":"Gail Kalinoski","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/","url":"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/","name":"Seattle\u2019s Original Rainier Brewery Gets New Owners - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Original-Rainier-Brewery_Seattle-e1546440499553.jpg","datePublished":"2019-01-02T14:52:14+00:00","dateModified":"2022-12-09T04:15:12+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Original-Rainier-Brewery_Seattle-e1546440499553.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Original-Rainier-Brewery_Seattle-e1546440499553.jpg","width":845,"height":634,"caption":"Original Rainier Brewery"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/seattles-original-rainier-brewery-gets-new-owners\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Seattle\u2019s Original Rainier Brewery Gets New Owners"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57","name":"Gail Kalinoski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","caption":"Gail Kalinoski"},"description":"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Original-Rainier-Brewery_Seattle-e1546440499553.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004288957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1068"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004288957"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004288957\/revisions"}],"predecessor-version":[{"id":1004289023,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004288957\/revisions\/1004289023"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004288963"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004288957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004288957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004288957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}