{"id":1004336063,"date":"2019-07-04T02:46:21","date_gmt":"2019-07-04T10:46:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004336063"},"modified":"2022-03-03T19:17:27","modified_gmt":"2022-03-04T03:17:27","slug":"everwest-enters-seattle-office-market","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/everwest-enters-seattle-office-market\/","title":{"rendered":"EverWest Enters Seattle Office Market"},"content":{"rendered":"
\"Olympic<\/a>

Olympic Block. Image courtesy of EverWest Real Estate Investors<\/em><\/p><\/div>\n

EverWest Real Estate Investors in a joint venture with Frontal Trust, has acquired Olympic Block, a mixed-use property totaling more than 73,000 square feet in Seattle. New York-based Brickman sold the asset. This transaction marks EverWest\u2019s first acquisition in the metro.<\/p>\n

Located at 101 Yesler Way, in downtown Seattle\u2019s Pioneer Square, the mixed-use property sits at the corner of Yesler Way and First Avenue South. Additionally, the Pioneer Square Station is two blocks away and a mix of dining and shopping venues are nearby.<\/p>\n

EverWest purchased six floors of the eight-story Olympic Block, six floors of the Lippy Building and roughly 8,500 square feet of street-level retail space. Olympic Block also includes three floors of 15 residential units each with two designated parking spaces owned by a separate entity. More than half of the property is considered creative light-tech, with the possibility to serve as open or collaborative office spaces. The property was 90 percent leased at the time of sale to a mix of tech and corporate solutions office tenants, as well as restaurants, including Northwest Resource Group, Compunet, Rocke Law Group and Jimmy John’s.<\/p>\n

EverWest Managing Director Ryan Madson secured the acquisition on behalf of the joint venture. In June, the company sold The Circuit, a 185,000-square-foot office property in Tempe, Ariz. for $46 million<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company purchased six floors of the eight-story Olympic Block. The roughly 73,000-square-foot mixed-use property was 10 percent vacant at the time of sale.<\/p>\n","protected":false},"author":2518,"featured_media":1004336069,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21752,21742,1610,15],"tags":[36105,40101,38504],"class_list":["post-1004336063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-mixed-use","category-latest","category-seattle","category-west","tag-brickman","tag-everwest-real-estate-investors","tag-frontal-trust"],"acf":[],"yoast_head":"\nEverWest Enters Seattle Office Market - 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\/everwest-enters-seattle-office-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EverWest Enters Seattle Office Market\" \/>\n<meta property=\"og:description\" content=\"The company purchased six floors of the eight-story Olympic Block. 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