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| Olympic Block, Pioneer Square Downtown Seattle, WA |
PHOENIX, AZ – EverWest Real Estate Investors, in
partnership with Chilean-based fund manager Frontal Trust, has entered into the
Seattle office market with the acquisition of Olympic Block, a
technology-oriented, mixed-use office and retail building located in the heart
of downtown Seattle’s Pioneer Square.
Managing Director Ryan
Madson directed the acquisition of Olympic Block on behalf of EverWest and
Frontal Trust. The building seller is New
York-based Brickman.
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| Ryan Madson |
“Olympic
Block checks all of those boxes, operating as a modern mixed-use asset while
still allowing us to add value and capitalize on the area’s double-digit rent
growth through strategic leasing and interior improvements.”
Olympic
Block totals 73,184 square feet at 101 Yesler Way, at the corner of Yesler Way
and 1st Avenue South. EverWest’s purchase includes six floors
of the Olympic Block Building, built in 1986, six floors of the Lippy Building,
built in 1889, and 8,576 square feet of street-level retail space.
The
project also includes three floors of residential space that is owned by a
separate entity and not part of the acquisition. The office, retail and
residential spaces are served by a subterranean parking garage.
CONTACT:
Stacey Hershauer
1+ 480.600.0195
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