BearRock Investments LLC
232 Office Building
232 7th Avenue N. Seattle, Washington
~ 8 -10 Year Hold
Active
Purchased a distressed industrial building and converted the building to a ~5,000 office project. The acquisition was completed prior to Apple's new 680,000 regional headquarters building across the street, and construction of the Seattle Tunnel connecting South Seattle with Fremont and Wallingford submarkets.
Project Type | Source | Size | Acquisition Price | Sale Price |
|---|---|---|---|---|
Industrial converted to office | Industry relationships, off the market | 5,000 square feet | $1,850,000 | Not yet sold |
BearRock Investments identified the long-term potential of this property well before its transformation was complete. At the time of acquisition, the building fronted Aurora Avenue—then a congested and heavily trafficked corridor. With the completion of Seattle’s north–south Highway 99 tunnel, Aurora was removed and replaced by a quieter, tree-lined 7th Avenue, fundamentally changing the character of the streetscape and the appeal of the location.
That early vision was further validated when the formerly vacant parcel immediately north of the building was developed into Apple’s 680,000-square-foot regional headquarters, significantly enhancing the surrounding environment and long-term value of the asset. Today, the property is 100% to an architecture firm and two real estate firms, reflecting the strength of both the location and the investment thesis.
