8th & THOMAS PARCEL D
8th & THOMAS
8th & THOMAS PARCELS A, B & C
DEVELOPMENT OPPORTUNITY
URBAN POSSIBILITIES
A 2 5 , 200 s q u a r e foot de ve lopme nt opportuni ty a va i l a bl e for purch a se or j o i nt ventu re.
P R E S E N T E D E X C L U S I V E LY B Y PAC I F I C R E A L E S TAT E PA RT N E R S , I N C . S T E V E S C H WA RT Z
JJ SHEPHARD
(425) 974-4005
(425) 974-4031 j j . s h e p h a r d @p a c i fi c - r e . c o m
s t e v e . s c h w a r t z @ p a c i fi c - r e . c o m
8th & Thomas is located in Seattle’s South Lake Union Neighborhood, one of the biggest urban redevelopments in the country. Close proximity to both downtown Seattle and to the lively, emerging waterfront neighborhood makes 8th & Thomas a unique investment opportunity. Existing zoning for residential or commercial uses and strong demographics offer unlimited potential in one of the nation’s strongest economic and real estate markets.
INVESTMENT HIGHLIGHTS Parcel No.
Dimensions
SQ FT
Current Zoning
PARCEL A
199120-1080
60’ x 120’
7,200
SM-85
PARCEL B
199120-1085
60’ x 120’
7,200
SM-85
PARCEL C
199120-1095
60’ x 120’
7,200
SM-85
PARCEL D
199120-1400
30’ x 120’
3,600
SM-85
25,200
2,000,000 SF 1,965,773
2004 - 2007 1,800,000
PHASE 1 GROWTH PROJECTIONS GROWTH ACTUALS
1,600,000 1,400,000 1,200,000
1,525,967
1,000,000
833,200
600,000
119,865
400,000 200,000 0
Biotech
Office
173,059
707,800
800,000 702,799
» Premier location in Seattle’s emerging South Lake Union (SLU) neighborhood - Blocks to downtown Seattle - Easy access to I-5, I-90 or Highway 99 - Walking distance to lively workplaces, shops, restaurants, schools, parks, entertainment and recreation » SLU is hub to accomplished organizations, including University of Washington, Fred Hutchinson Cancer Research Center, Seattle Cancer Care Alliance, Microsoft, Vulcan (Paul Allen’s development company), ZymoGenetics, Children’s Hospital » Serviced by Seattle’s new Streetcar line that travels from Fairview Avenue in SLU to the heart of downtown in Westlake Center » Corner location » Alley access
GROWTH PROJECTION
1,382,080
PROPERTY HIGHLIGHTS
Retail/Hotel
Residential
2
1
VE
N
U
E
L A K E U N IO N
VI IR
N 5th Avenue
FA
ST
N
LA
South Lake Union Park
KE AV
8th & Thomas Properties
WE
N 4th Avenue
N
EW
A
LEGEND
EN
7
UE
HOTELS
VA L L E Y S T R E E T
SCHOOLS
SOUTH LAKE UNION
1
Fred Hutchinson Cancer Research Center
2
Kenmore Air
3
King 5
4
Pan Pacific Hotel
5
Pemco
6
R.E.I.
7
Seattle Cancer Care Alliance
8
Space Needle
9
Targeted Genetics
MERCER STREET
N FA I R V I E W AV E N U E
JOHN STREET
Denny Park
5 6
E E A S T L A K E AV E N U E
5
THOMAS STREET
N YA L E A V E N U E
N B O R E N AV E N U E
N T E R R Y AV E
HARRISON STREET
N P O I N T I U S AV E N U E
3
REPUBLICAN STREET
N M I N O R AV E N U E
8
N W E S T L A K E AV E N U E
SOUTH LAKE UNION STREETCAR
BR
O
A
N 6 T H AV E N U E
D
ST
RE
ET
Seattle Center
N 9 T H AV E
99
N 8 T H AV E N U E
N D E X T E R AV E N U E
U R B A10 N C E N T E R
5
D E N N Y W AY
ET RE ST
ET
Y
RE
LA
RE
ED
BO 9T
8T
RE
ET
6T 5T
ET
H
A
4T
H
A
A
V
V
H
A
V
H
A
V
RE
N A
A
V
E
RE ST
V
E
ET RE
IN G
ST
E
RT
V
A
A
VE
VE
VE
2 I
VE
W
AY
Westlake Center
NE
ST
RE
ET
S E AT T L E CBD PI
PI
KE
ST
RE
ET
Washington State Convention Center
ST
EW
A
A
Y
R
9
E
IR
T
RR
E
A
E
E
IA
A
V
1S
D
V
N
O
E
ET
O N LE
2N
TE A
OL D
RA
ST
BL
3R
V
H
RE
IN
E
ET
C
H
A
RD
ST
BE
RE
LL
Parcel C 199120-1095 7,200 SF
7T
Parcel D 199120-1400 3,600 SF ST
W
A
LL
ST
V
Parcel B 199120-1085 7,200 SF
H
RE
IN
ET
E
ST
C
ET
A
R
ST
C
Parcel A 199120-1080 7,200 SF
M
NUE K E AV E
11 Whole Foods Market
11
WESTLA
10 UW Research Lab
4
UN
DEMOGRAPHIC PROFILE 3 Mile Radius
5 Mile Radius
Estimated Population
42,946
185,548
367,644
Average Household Income
$57,565
$67,862
$71,749
37.0
36.9
37.4
Household Income Over $75,000
23.9%
31.5%
36.2%
Total Housing Units
33,074
108,986
195,883
Professional, Management and Sales Occupations
77.6%
77.2%
76.3%
$610,000,000
$2,272,000,000
$4,286,000,000
Bachelor’s Degree or Higher
54.6%
56.5%
56.7%
Home’s Valued Over $500,000
47.9%
24.9%
15.8%
Total Retail Expenditure
N
ST
MARKET PROJECTIONS
1 Mile Radius
Median Age
IO
*Data is as of the 2007 Census estimates, except for “Professional, Management and Sales Occupations” and “Homes valued over $500,000”, which are based on the 2000 Census Data.
» Amazon has agreed to lease up to 1.6 million SF in up to 11 new buildings to be constructed in SLU, bringing up to 6,000 Amazon employees to the area over the next 5 years » Approximately 1.5 million SF of new biotech space » Nearly 4.4 million SF of new space will be built by next year in SLU neighborhood » Almost 7,000 jobs will be created » 1,850 residential units occupying nearly 2 million SF will be built in South Lake Union by 2008 » Microsoft has leased 126,000 SF in the Westlake Terry building » Fred Hutchinson’s master plan calls for it to build an additional 1.5 million SF in the neighborhood » The UW has an option to build an additional 365,000 SF
SE ATTLE C B D
E LLIO T T B AY
B E L LT O W N
8th & THOMAS
8th & THOMAS
PARCEL D
E N 9 T H AV E N U
XT
BR
ER
O
AD
ST
RE
ET
AV EN
N WES TLA
DE
MERCER STREET
N
K E AV ENU
E
PARCELS A, B & C
UE
99
N
Suquamish LA KE
W
ES
TL
AK
E
AV
EN
UE
Woodinville
Bothell
U N IO N
305
522
405
305
Kirkland
908
Redmond
513
5
520 520
Seattle
8th & THOMAS
99 90
P R E S E N T E D E X C L U S I V E LY B Y PAC I F I C R E A L E S TAT E PA RT N E R S , I N C . S T E V E S C H WA RT Z
JJ SHEPHARD
(425) 974-4005
(425) 974-4031 j j . s h e p h a r d @p a c i fi c - r e . c o m
s t e v e . s c h w a r t z @ p a c i fi c - r e . c o m
Bellevue