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BearRock Investments LLC
SODO Retail Center
2406-2420 1st Avenue S. Seattle, Washington
~ 4 Year Hold | Targeting 20% IRR
Active
Purchased building with 1/3 vacancy. Signed lease with new tenant bringing building 100% occupied.
Project Type | Source | Size | Acquisition Price | Sale Price |
|---|---|---|---|---|
Retail/Office/Light Manufacturing/Flex | Industry relationship, not on the market | 27,000 square feet | $6,200,000 | Not yet sold, but targeting $9,400,000 |
Acquired property off-market. Property is directly across the street from Starbuck's 1.2 million square foot headquarters campus with 4,000 employees. Purchased the property with 1/3 of the project vacant. Leased the vacant suite to a strong, local company to bring the project to 100% leased with strong cash on cash returns.
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