Tuesday, June 7, 2016

HFF closes $20.75 million sale of Hard Rock Café Seattle building

Hard rock Cafe Seattle Near Pike Place Market, Seattle, WA

Gerry Rohm
SAN FRANCISCO, CA, June 7, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $20.75 million sale of the building that houses the Hard Rock Café Seattle near Pike Place Market in Seattle, Washington. 

HFF marketed the property on behalf of Urban Visions.  KLM Equities Inc. purchased the asset free and clear of existing debt.      

The property is situated on .16 acres at 114 Pike Street between 1st and 2nd Avenues.  One hundred percent leased to Hard Rock Café Seattle, the building is one block from Pike Place Market, a destination shopping, dining and entertainment area with more than 10 million visitors annually.

 The area has a Walk Score® of 99, and the property has a Transit Score® of 100, receiving the designation of a “World Class Public Transit” location, as the Link, Seattle’s light rail system, is within two blocks of the property and bus service for more than 20 lines is less than a block away. 

Nicholas Kucha
As the only Hard Rock Café location in the Pacific Northwest, Hard Rock Café Seattle is a three-story restaurant that consists of seating for 435 and a Rock Shop retail area for selling merchandise. 

The HFF retail investment sales team representing the seller was led by senior managing directors Gerry Rohm and Nicholas Kucha, director Nick Kassab and associate director Danny Reddin.

“The Hard Rock Café Seattle is located in the heart of the Pike-Pine Corridor – Seattle’s most active retail submarket with more than 10 million visitors annually,” Kassab said. 

“The $73 million expansion of Seattle’s Pike Place Market will serve to further re-shape the submarket upon completion with new vendor stalls, retail space and a viewing deck.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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