BearRock Investments LLC
Madison Park Office
4033 E. Madison Street, Seattle, Washington
~ 4 Year Hold | Targeting 20% IRR
Active
Purchased "generational real estate" off the market. The acquisition represented the first time the project had sold since 1960's. The partnership has made significant interior improvements and building is 97% occupied.
Project Type | Source | Size | Acquisition Price | Sale Price |
|---|---|---|---|---|
Office | Industry relationships, off the market | 9,848 square feet | $4,118,000 | Not yet sold |
We acquired this iconic property in an off-market transaction that marked the first time the building had changed hands in over 60 years. Located in the heart of Seattle’s highly sought-after Madison Park neighborhood, the asset is widely regarded as a true landmark.
Following closing, we thoughtfully repurposed underutilized common areas—including the basement and its original kitchen, the first-floor library, and former service rooms—into high-quality, leasable office suites. These strategic improvements increased net operating income by 41%, and the building is now 97% leased with strong tenant demand continuing.
