BearRock Investments LLC
100 Northlake Building
100 NE Northlake Way, Seattle, Washington
~3-5 Year Hold | Targeting 25% IRR
Active
Purchased a 25,809 square foot office building over two levels of secure parking on the North end of Lake Union, with beautiful views of the lake and downtown Seattle.
Project Type | Source | Size | Acquisition Price | Sale Price |
|---|---|---|---|---|
Office | Industry relationships, on the market | 25,809 square feet of office, plus ~16,000 square feet of parking (two levels) for a total of 41,809 square feet | $6,675,000 | Not yet sold |
We acquired this premier three-story office building—with two levels of structured parking—in July 2025 as part of a 1031 tax-deferred exchange. To complete the all-cash purchase with no debt, we successfully brought in additional equity from new investors.
The acquisition price equated to approximately $259 per square foot (excluding the value of the parking levels), representing exceptional value in the market.
At closing, the building was roughly 40% occupied, offering prime vacant suites—including a standout third-floor space featuring a private deck with panoramic views of Lake Union and downtown Seattle.
Since acquisition, we have renewed leases with two of the three existing tenants and are actively marketing the remaining space. With strong leasing momentum, we anticipate achieving 100% occupancy by the second quarter of 2026.
