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1110 ELLIOTT AVE W
ELLIOTT A
VE W
OFFERING MEMORANDUM | SEATTLEINTERBAYSITE.COM
NEW HEADQUARTERS
Future Development Opportunity with Easy Access to Seattle CBD & Adjacent to Expedia’s 40-Acre Headquarters
1110 ELLIOTT SITE
ELLIOTT BAY
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kidder Mathews and should not be made available to any other person or entity without the written consent of Kidder Mathews.
This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kidder Mathews has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the information and bears all risk for any inaccuracies.
KIDDER.COM
CONTACTJASON ROSAUER
ROB ANDERSON
KRISTYN KRUEGER
ELLIOTT A
VE W
1110 ELLIOTT AVE W
TABLE OF CONTENTS
01INVESTMENT SUMMARY
The OfferingOffering ProcessInvestment Highlights
02PROPERTY DESCRIPTION
Property SummaryZoning Information
03LOCATION OVERVIEW
Location HighlightsAerialsNeighborhood AmenitiesMajor EmployersDemographicsTransportation
04MARKET OVERVIEW
Puget Sound ReviewTop Puget Sound Employers
ELLIOTT A
VE W
1110 ELLIOTT AVE W
QUEEN ANNE
5SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS
01EXECUTIVE
SUMMARYTHE OFFERING
OFFERING PROCESS
INVESTMENT HIGHLIGHTS
DOWNTOWN SEATTLE
6 KIDDER MATHEWS OFFERING MEMORANDUM SEATTLEINTERBAYSITE.COM
EXPEDIA BRIDGE
BNSF RAILROAD
ELLIOTT AVE W
1110 ELLIOTT AVE W
DOWNTOWN SEATTLE
QUEEN ANNE
NEW HEADQUARTERS
7SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS
Kidder Mathews is pleased to present the opportunity to acquire the 1110 Elliott Site located in Seattle’s Interbay neighborhood.
THE OFFERING
Kidder Mathews is pleased to present the opportunity to acquire the 1110 Elliott Site located in Seattle’s Interbay neighborhood. Positioned off of the highly trafficked Elliott Avenue West corridor connecting Ballard, Queen Anne, and Magnolia to Seattle’s CBD and directly across from Expedia’s brand new 40-acre headquarters,
EXECUTIVE SUMMARY
this offering presents an incredible future development opportunity. Enjoying expansive views of Seattle’s Elliott Bay, easy access to Seattle’s Central Business District, and situated amidst tremendous job growth and vibrant industry leaders, this offering is truly a core opportunity with significant upside potential.
Currently operated as a parking lot, the 1110 Elliott Site includes 29,176 SF of land located in Seattle’s newly up-zoned Industrial Commercial (IC-65’ M) zone allowing for a larger, dense project with numerous potential end uses including office,
industrial, restaurant, among others. With Expedia already underway transitioning three to four thousand of their employees into the neighborhood, thousands of new apartment units recently completed along the Elliott/15th corridor, and a rapidly expanding downtown business district, the property is well-positioned to absorb the influx of demand and will benefit from any future development.
Located less than five minutes from downtown and bordered by Seattle’s affluent Magnolia neighborhood to the west and Queen Anne to the east, the Interbay neighborhood is positioned in the heart of much of the region’s growth. The 1110 Elliott Site is within minutes to the
strongest employment growth including Amazon, Apple, Google, F5 networks amongst several other world leading tech giants that are rapidly expanding in South Lake Union. This job growth, combined with Seattle’s robust transportation system via bus and incoming light rail station that will include an Interbay stop, the 1110 Elliott Site offers a prospective buyer an exceptional opportunity to acquire core real estate with immense upside in one of the world’s strongest markets.
OFFERING PROCESS
The 1110 Elliott Site is being offered for sale unpriced. The ownership will review and respond to offers as submitted while reserving the right to call for offers at a later date. Additional information can be found online at www.SeattleInterbaySite.com
600K+
TOTAL SF
900M+
DEVELOPMENT BUDGET
8K+
EMPLOYEES
BNSF RAIL
ROAD
ELLIOTT BAY
MAGNOLIA
40
ACRES
NEW HEADQUARTERS
8 KIDDER MATHEWS OFFERING MEMORANDUM SEATTLEINTERBAYSITE.COM
EXPEDIA’S NEW HEADQUARTERS
Located directly across the street, Expedia’s brand new $900M campus stretches over 40 acres with more than 600,000 SF and the ability to eventually house more than 8,000 employees. Transition into the new campus has just begun with full occupancy to take place by August 2020 upon completion of the campus’ second phase.
UNPARALLELED VISIBILITY AND GREAT ACCESS OFF HEAVILY TRAFFICKED ARTERIAL
Once known for its railroad and manufacturing roots, Seattle’s highly trafficked Elliott Corridor runs along the waterfront and connects the Interbay neighborhood to downtown Seattle. Positioned right off of Elliott Ave, the property offers excellent access to any future development as well as exceptional visibility to the 55,000 daily commuters the Elliott Corridor now brings.
ROBUST NEIGHBORHOOD WITH EXCELLENT DEMOGRAPHICS
With approximately 1 ,340 residential units recently completed and an additional 2,107 units in the pipeline within a 1-mile radius, the surrounding area will continue to densify as the Seattle market continues to grow and expand outward bringing with it a well-educated and highly-skilled labor force.
EXCEPTIONAL VIEWS OF THE PUGET SOUND
Located within blocks of Elliott Bay, any future development will benefit from expansive waterfront views.
PROXIMITY TO TOP TIER EMPLOYERS
Seattle’s positive job growth and tremendous population growth, up more than 70% since 2010, is largely attributed to the expanding real estate footprint of several of the world’s leading technology employers including Amazon, Apple, Facebook, and Google, with Expedia and F5 Networks located in close proximity along Elliott Avenue West. In addition, the South Lake Union neighborhood, is underway to house a new office for Google totaling over 600K SF as well as Apple who has plans totaling 630K SF in two 12-story office towers. These large developments as well as the several smaller projects in the pipeline will continue to bring a large influx of population and growth to the area.
STRONG REGIONAL ECONOMIC OUTLOOK
Named as the nation’s top market by Urban Land Institute, Seattle continues to garner significant attention from employers and developers all over due to its job opportunities, rapid population growth, innovation, educated employment base, and nation leading rent and job growth. Leading the way for much of the country, Seattle continues to experience unprecedented economic growth conveying its economic longevity for the foreseeable future.
INVESTMENT HIGHLIGHTS
SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS 9
ELLIOTT A
VE W
1110 ELLIOTT AVE W
D LINE + 7 ADDITIONAL SEATTLE TRANSIT BUS ROUTES
QUEEN ANNE
11SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS
02PROPERTY
DESCRIPTIONPROPERTY SUMMARY
ZONING INFORMATION
DOWNTOWN SEATTLE
12 KIDDER MATHEWS OFFERING MEMORANDUM SEATTLEINTERBAYSITE.COM
ELLIOTT AVE W
1110 ELLIOTT AVE W
55K/DAY Traffic Count
D LINE + 7 ADDITIONAL SEATTLE TRANSIT BUS ROUTES
QUEEN ANNE
PROPERTY SUMMARY
Property Name 1110 Elliott Site
Address 1110 Elliott Ave W
Parcel 6169901775
Land SF 29,176
Zone IC-65’ (M)
Urban Village Overlay Ballard-Interbay-Northend
Est Tree Canopy Coverage 55.5%
40% Steep Slope Yes
Frequent Transit Area Yes
POTENTIAL MASSING
Zone IC-65' (M)
Max FAR 2.75
Max Height 65'
Estimated Total Gross Buildable SF 80,234 SF
PROPERTY DESCRIPTION
*OVERLAY HAS NO DIRECT IMPACT ON ANY DEVELOPMENT PROPOSED OR EXISTING, PER THE CITY OF SEATTLE
PROPETY DETAILS
The 1110 Elliott Site is located on Elliott Avenue West, in close proximity to Seattle’s principal financial districts, the Lower Queen Anne business and entertainment district – including the Seattle Center – and the thriving and continually developing South Lake Union, home to several large employers including Amazon, Google, and Apple.
The property fronts Elliott Avenue West, directly across from Expedia’s new Headquarter campus, on Elliott Bay. The property is mostly level and consists of a 29,176 SF rectangular lot with the southwestern portion utilized as a parking lot, currently leased on a month-to-month basis. Located in Seattle’s Industrial Commerical (IC-65’ M) zone and within a frequent transit area allowing for a 15% vehicle parking reduction, this property is readily developable for a wide range of end uses.
SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS 13
IC’65 (M) ZONING USES AND INFORMATION
Office P
Industrial P
Caretaker’s Quarters P
Restaurants P
Entertainment (Theater, Sports facilities) P
FAR within IC’65 (M) Zone 2.75
MAXIMUM SF ALLOWED
Type SF
Office No Size Limit
Restaurant No Size Limit
Entertainment 75,000
Medical Services 75,000
ZONING INFORMATIONThe 1110 Elliott Site is located in Seattle’s Industrial Commercial zone allowing for a broad use of industrial and office uses. Previously limited to a height of 45 feet, the City of Seattle has up-zoned the Interbay neighborhood now permitting a height of 65 feet allowing for taller, more dense buildings. As the downtown Seattle CBD core continues to expand outwards, in response to the economic growth of the past decade, neighboring submarkets are absorbing much of the demand and influx of population. As a result, land values are rising rapidly, rendering older buildings obsolete and resulting in developers acquiring sites
that support future development. This is evidenced by the adjacent Expedia campus as well as the 56 other development projects underway within a one-mile radius of the subject property.
IC - 65' M
INDUSTRIAL COMMERCIAL
MAXIMUM HEIGHT
MANDATORY HOUSING
AFFORDABILITY
1110 ELLIOTT AVE W
ELLIOTT AVE W
14 KIDDER MATHEWS OFFERING MEMORANDUM SEATTLEINTERBAYSITE.COM
1110 ELLIOTT AVE W
ELLIOTT A
VE W
VEHICLE PARKING WITHIN IC-65' (M) ZONE
Use Minimum Parking Required
Office 1 space for each 1,000 SF
Industrial 1 space for each 2,000 SF
Caretaker’s Quarters 1 space for each dwelling unit
Restaurants 1 space for each 250 SF
Entertainment (Theater, Sports Facilities) 1 space for each 8 fixed seats, or 1 space for each 100 SF of public assembly
Food Processing 1 space for each 2,000 SF
BICYCLE PARKING WITHIN IC-65' (M) ZONE
Use Long Term Long Term
Office 1 per 2,000 SF 1 per 10,000 SF
Industrial 1 per 4,000 SF 1 per 20,000 SF
Restaurants 1 per 5,000 SF 1 per 1,000 SF
Entertainment (Theater, Sports Facilities) 1 per 10,000 SF
Equivalent to 8% of maximum building capacity
*PROPERTY IS WITHIN A FREQUENT TRANSIT AREA ALLOWING A 15% VEHICLE PARKING REDUCTION
SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS 15
1110 ELLIOTT AVE W
BN
SF R
AIL
RO
AD
ELLIOTT AVE W
DOWNTOWN SEATTLE
QUEEN ANNE
EXPEDIA BRIDGE
17SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS
03LOCATION
OVERVIEWLOCATION HIGHLIGHTS
AERIALS
NEIGHBORHOOD AMENITIES
MAJOR EMPLOYERS
DEMOGRAPHICS
TRANSPORTATION
NEW HEADQUARTERS
ELLIOTT BAY
LOCATION OVERVIEW
INTERBAY NEIGHBORHOOD
Interbay has traditionally been home to Seattle’s close-in industrial market with several Class-A offices on the southern end, along the water of the neighborhood, and warehouses and smaller retail shops along Elliott Ave to the north. Since the bottoming out of the Great Recession, Interbay began experiencing significant changes starting in 2012 with a large amount of new apartment units delivered along 15th and Dravus. Then in 2015, Expedia announced its acquisition of the Former Amgen Campus in Interbay and further fueled the demand in the submarket. This demand has
resulted in a robust development pipeline within a 1-mile radius of 1110 Elliott Site including 57 total projects either recently completed, under construction, or planed for future development totaling 6.6m SF.
LOCATION HIGHLIGHTSRECENTLY up-zoned area boosting demand and development potential
BORDERED by several of Seattle’s premier and densely populated submarkets including Queen Anne, South Lake Union, and Magnolia
SIGNIFICANT nearby tenant demand due to local positive job growth
HIGHLY desirable location with access less than 5 minutes to Seattle’s CBD
NEIGHBORING large employers including Expedia and F5 Networks, among several others
UNPARALLELED visibility and high traffic counts
INCOMING light rail station reducing travel times for commuters
18 KIDDER MATHEWS OFFERING MEMORANDUM SEATTLEINTERBAYSITE.COM
DEVELOPMENT WITHIN 1-MILE RADIUS
Total Projects 57
Total SF by Status 6.6M TOTAL SF
1.6M SF |23 Projects Completed (in Last 3 Years)2.4M SF | 10 Projects Currently Under Construction2.5M SF | 24 Projects Planned
Upcoming Projects 1.3M SF 259K SF905K SF156K SF 1.5M SF
2019202020212022 TBD
New Residential Units by Status
3,450 Units1,490 Units 617 Units 1,340 Units
TOTAL PlannedUnder ConstructionRecently Completed
New Retail by Status 1.2M SF120K SF 934K SF 111K SF
TOTALPlanned Under ConstructionRecently Completed
New Office by Status 2.3M SF 1.4M SF 748K SF 184K SF
TOTALPlannedUnder ConstructionRecently Completed
SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS 19
KINNEAR PARK
• 14 ACRE PARK WITH LANDMARK STATUS
• SOLD TO THE CITY FOR $1 BY GEORGE KINNEAR
• OFF LEASH PARK, TENNIS COURTS, KIDS PLAY AREA
ELLIOTT BAY
LOWER QUEEN ANNE
QUEEN ANNE
INTERBAY
KERRY PARK
• HOME TO SEATTLE'S MOST PROMINENT VIEW POINT
• DONATED TO SEATTLE IN 1927
• VIEW OF THE CITY, SPACE NEEDLE, ELLIOTT BAY, AND
MOUNT RAINER
1110 ELLIOTT AVE W
20 KIDDER MATHEWS OFFERING MEMORANDUM SEATTLEINTERBAYSITE.COM
PARKS AERIAL - NEED TO CREATE
ELLIOTT BAY WATERFRONT PARKS
• THREE CONTINUES PARKS FORMING A 25 ACRE GREENSPACE
• 3-MILE PEDESTRIAN AND BIKE TRAIL ALONG ELLIOTT BAY
• 20 OUTDOOR ART INSTALLATIONS FROM SEATTLE ART MUSEUM
• TWO PEDESTRIAN BRIDGES CONNECTING THE PARKS TO ELLIOTT AVE
• PUBLIC FISHING PIER, TACKLE SHOP, AND ROSE GARDEN
LAKE UNION
DOWNTOWN SEATTLE
BELLTOWN
SOUTH LAKE UNION
LAKE UNION PARK
• 12 ACRE PARK ALONG SOUTH END OF LAKE UNION
• GREENSPACE FOR LOUNGING AND RESTORED SHORELINE
• MUSEUM OF HISTORY AND INDUSTRY AND CENTER FOR
WOODEN BOATSDENNY PARK
• SEATTLE'S OLDEST PARK, LAND WAS DONATED IN 1861
• BASKETBALL COURTS AND CHILDREN'S PLAY AREA
• CENTRAL FOUNTAIN WITH GREENSPACE AND MATURE TREES
SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS 21
1110 ELLIOTT AVE W
LAKE UNION
ELLIOTT BAY
Seattle Center
MERCER ST
QU
EE
N A
NN
E A
VE
N
THO
RN
DY
KE
AV
E N
WE
ST
LA
KE
AV
E N
W MCGRAW ST
GALER ST
W ROY ST
NICKERSON STD
EX
TE
R A
VE
N
ELLIOTT A
VE W
05
08
08
01
06
04
04
11
06
04
02
06
08
10
03
05
15
16
17
18
19
20 21
22
24
25
26
27
28
28
28
28
23
01
01
02
14 05
12
11
07
07
03
04
07
09
10
02
03
01
09
08
13
12
QUEEN ANNE
INTERBAY
MAGNOLIA
22 KIDDER MATHEWS OFFERING MEMORANDUM SEATTLEINTERBAYSITE.COM
NEIGHBORHOOD AMENITIES
EAT + DRINK
1 Taco Time
2 Fuji Bakery
3 Baskin Robins
4Holy Mountain Brewing Company
5 Ward Johnson Winery
6 Chocolopolis
7 Macrina Bakery & Cafe
8 Time 4 Pho
9 Red Mill Burgers
10 Pagliacci Pizza
11 Boxcar Ale House
12 Yasuko's Terikayi
13 La Palma Family Mexican
14 Taco Bell
15 Ozzie's
16 Mecca Cafe
17 Dick's Drive-In
18 Toulouse Petit
19 Roti Cuisine of India
20 The Melting Pot
21 Pressed Juicery
22 Blue Water Taco Grill
23 Uptown Espresso
24 Broadfork Cafe
GROCERY + SHOPPING
1 Whole Foods
2 Petco
3 Just Food for Dogs
4 QFC
5 Metropolitan Market
6 Total Wine & More
7 Trader Joe's
8 Safeway
9 Establishment Name
10 Establishment Name
HEALTH + SERVICES
1 Soul Fitness Club
2 Orangetheory Fitness
3 Coreo Fitness
4 Anytime Fitness
5 Northwest Fitness
6 CorePower Yoga
7 Breathe Hot Yoga
8 Sanctuary
9 Concentra Urgent Care
10 Vera Whole Health
11 Queen Anne Natural Health
12Seattle Accupuncture & Holistic Health
25 Buckley's in Queen Anne
26 Uptown China
27 La Marzocco Cafe
28 Starbucks
SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS 23
24 KIDDER MATHEWS OFFERING MEMORANDUM SEATTLEINTERBAYSITE.COM
MAJOR EMPLOYERS NEARBY
1 Adobe
2 Alaska Airlines
3 Amazon
4 Bartell Drugs HQ
5 Big Fish Games
6 Seattle Childrens Hospital
7 City of Seattle
8 Cutter & Buck
9 Expedia Inc.
10 F5 Networks
11 Facebook
12 Fred Hutch
13 Gates Foundation
14 Getty Images
15 Google
16 Group Health
17 Holland America
18 Nordstrom
19 PATH
20 Pemco Insurance
21 Plum Creek Timber Co.
22 RealNetworks
23 REI
24 Safeco Insurance
25 Saltchuck Resources
26 Starbucks
27 Swedish Health Services
28 Tableau Software
29 Uber
30 University of Washington
31 Virginia Mason
32 Weyerhaeuser
33 Zillow
34 Zulily
01
03
11
20
12
23
27
31
28
13
05
25
08
34
09
14
32
22
26
15
07
1624
29
33
30
18
21
19
17
06
02
04
ELLIOTT BAY
LAKE UNION
CAPITOL HILL
QUEEN ANNE
CBD
FREMONT
PIONEER SQUARE
SODO
WEST SEATTLE
INDUSTRIAL DISTRICT
10
1110 ELLIOTT AVE W
N
QUEEN ANNE
SEATTLE CBD
MERCER ST
ELLIOTT A
VE W
FAIR
VIEW
AVE N
DENNY WAY
LAKE UNION
ELLIOTT BAY
SEATTLE CENTER MONORAIL | KEY ARENA
SPACE NEEDLE BILL & MELINDA GATES FOUNDATION
AMAZON HEADQUARTERS
GOOGLE CLOUD
EXPEDIA
FRED HUTCHINSON
SOUTH LAKE UNIONF5
1110 ELLIOTT AVE W
SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS 25
ELLIOTT BAY
SEATTLE
QUEEN ANNE
SODO
WEST SEATTLE
UNIVERSITY DISTRICT
BALLARD
MAGNOLIA
3 MILES
5 MILES
1 MILE
NORTHGATE
PHINNEY RIDGE
1110 ELLIOT AVE W
DEMOGRAPHICS
POPULATION
1 Mile 3 Miles 5 Miles
2019 Total Population 24,154 226,649 477,844
2024 Est. Population 26,041 242,143 509,803
Annual Population Growth 1.6% 1.4% 1.3%
Median Age (2019) 36.0 35.3 35.5
HOUSEHOLD
1 Mile 3 Miles 5 Miles
2019 Total Households 14,452 133,608 247,146
HH Growth 2019-2024 2.2% 3.3% 2.6%
Median Household Income $143,035 $120,184 $124,029
Average Household Size 1.6 1.6 1.8
DRIVE TIMES FROM 1110 ELLIOTT AVE W
Location Distance Time
South Lake Union 2.0 Miles 5 Minutes
Downtown Seattle 2.8 Miles 5 Minutes
Ballard 3.1 Miles 9 Minutes
Green Lake 5.7 Miles 12 Minutes
University District 6.0 Miles 15 Minutes
Northgate 8.0 Miles 18 Minutes
Downtown Bellevue 10.3 Miles 20 Minutes
Seatac Airport 16.0 Miles 30 Minutes
MAGNOLIA
26 KIDDER MATHEWS OFFERING MEMORANDUM SEATTLEINTERBAYSITE.COM
TRANSIT KEY
Bus Route D
Bus Route #19
Bus Route #24
Bus Route #32
ELLIOTT BAY
INTERBAY
QUEEN ANNE
DOWNTOWN SEATTLE
SOUTH LAKE UNION
CAPITOL HILL
LAKE UNION
FREMONT
NW 65TH ST
28
TH
AV
E N
W
32
ND
AV
E N
W
15
TH
AV
E N
W
8T
H A
VE
NW
W MCGRAW ST
W DRAVUS ST
DENNY WAY
MERCER ST
QU
EE
N A
NN
E A
VE
N
N 45TH ST
3RD AVE
WESTLA
KE A
VE N
MAGNOLIA
FUTURE SMITH COVE LIGHT RAIL STATION
(2035)
FUTURE INTERBAY LIGHT RAIL STATION
(2035)
1110 ELLIOTT AVE W
SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS 27
ELLIOTT A
VE W
1110 ELLIOTT AVE W
QUEEN ANNE
29SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS
04MARKET
OVERVIEWPUGET SOUND REVIEW
TOP PUGET SOUND EMPLOYERS
DOWNTOWN SEATTLE
30 KIDDER MATHEWS OFFERING MEMORANDUM SEATTLEINTERBAYSITE.COM
PUGET SOUND REVIEWThe Puget Sound region has proven its economic viability and resilience through the several economic storms its weathered from the boom and bust cycles of Boeing, the Dot Com crisis to the financial crisis in 2008. The strength and continued growth the region experiences have garnered a significant amount of investment dollars from corporations, institutions, and individuals both locally and worldwide. At the heart of the region is Seattle and its unprecedented economic growth that has led the way for much of the country, being recognized as the fastest growing big city in the country, the nation’s #1 city for jobs, and the current crane count leader. This growth is largely attributed to its burgeoning tech industry and highly skilled labor pool. Several giants in the tech world call Seattle home, including Microsoft and Expedia, while numerous others continue
to expand their Pacific Northwest footprint, including Amazon, Google, Facebook, and Apple. Most recently, Amazon has committed to over 1 million SF in Bellevue, casting a footprint large enough to rival a second headquarter location, further demonstrating the Puget Sound Region’s economic appeal. In addition to its technology industry, the skilled workforce in Seattle has proven a hotbed for its overall business culture. Other Fortune 500 companies call Seattle home like Boeing, Weyerhauser, Starbucks, and Nordstrom, which provide a strong sense of diversity from the technology industry. According to the website for the City of Seattle’s Office of Economic Development, Seattle remains an established leader with immunotherapy as well, with anchors like Juno Therapeutics and the Fred Hutchinson Cancer Research Center. In South Lake Union, research and development in engineering and life sciences is nearly 14 times more concentrated than it is nationally. The booming
tech industry generally takes the headlines, but an emerging life sciences sector, a growing talent pool, and an active commercial real estate industry has made the Puget Sound an increasingly strong economic hub for the foreseeable future and a big reason why the region’s current unemployment rate is at 2.9%. The overall office market throughout Seattle has experienced significant growth from the strong region wide economic fundamentals as well. Rents have increased steadily for the past six years as vacancy continues to hover below 10% region wide. Activity in this sector shows little signs of slowing either, as technology companies continue to expand their footprint by taking up space in Seattle and the surrounding submarkets. Record per-square-foot sales prices for commercial buildings continue to rise and positive absorption continues to increase. Seattle’s recent growth that’s twice the national average, a diverse economy with an educated, young workforce, coupled with major sports teams and natural attractions, provides for an ideal environment to live, work, and flourish.
MARKET OVERVIEW
80K EMPLOYEES
20K EMPLOYEES 15K EMPLOYEES 13K EMPLOYEES 10K EMPLOYEES 8K EMPLOYEES
56K EMPLOYEES 42K EMPLOYEES 40K EMPLOYEES 25K EMPLOYEES
TOP PUGET SOUND EMPLOYERS
SEATTLEINTERBAYSITE.COM OFFERING MEMORANDUM KIDDER MATHEWS 31
KIDDER.COM
EXCLUSIVELY REPRESENTED BY
JASON ROSAUER
ROB ANDERSON
KRISTYN KRUEGER
![ROBERT JAMES ELLIOTT CURRICULUM VITAE CITIZENSHIP ...haskayne.ucalgary.ca/.../robert-elliott-cv.pdf · R.J. Elliott – CV [September, 2006 - Page 1] ROBERT JAMES ELLIOTT CURRICULUM](https://img.pdfslide.us/doc/110x75/5fdc51cfa239fb15507e657b/robert-james-elliott-curriculum-vitae-citizenship-rj-elliott-a-cv-september.jpg)
