1275 Mercer

Investment Overview

1275 Mercer is a 100% leased, two-tenant covered land play in Seattle’s South Lake Union. The Offering caters to passive investors who will benefit from strong in-place cash-flow with minimal management; or active investors/developers who want an A+ development site. The property is anchored by a national credit tenant alongside a local family entertainment operator, with attractive zoning and a massing study for up to 237 residential units (SM-SLU 65/95).

Investment Highlights

• IRREPLACEABLE A+ LOCATION
• • The Property is located in Seattle’s South Lake Union, the hub of one of
• the nation’s most concentrated biotech and life sciences corridors.
• • Embedded within one of the wealthiest urban trade areas in the United
• States with average household income of $177,605, 31% of households
• earning $200,000+, and nearly 80% college-educated. The Property’s
• 1-mile residential base has grown 83% since 2010 to 86,392 residents.
• • Located on Mercer Street, the primary east-west arterial connecting I-5
• to Elliott Avenue, with immediate access to the interchange carrying over
• 36,000 vehicles per day.
• • South Lake Union is one of the most sought-after urban neighborhoods
• in the Pacific Northwest, driven by world-class employers and surging
• residential growth.
• PREMIER URBAN INFILL LAND POSITION
• The Property offers stable in-place income while providing long-term
• optionality over a high-density redevelopment site, offering meaningful
• downside protection with significant upside in one of Seattle’s most supplyconstrained
• sub-markets.
• MULTI-FAMILY GROWTH CORRIDOR
• South Lake Union ranks among the most active multifamily corridors in
• the Pacific Northwest, having added over 10,000 units since 2010, a 245%
• increase, reflecting sustained, long-term demand for urban density in one of
• the Pacific Northwest’s most sought-after live-work neighborhoods.
• STRONG TENANCY
• The Property is 100% leased to two established, complementary tenants -
• Bright Horizons and PlayDate SEA - providing immediate, stabilized cash
• flow from day one. Bright Horizons represents 80% of in-place income.
• RARE ON-SITE PARKING GARAGE
• The Property includes an underground parking garage with 24 stalls.
• Dedicated site parking for a retail property in the heart of South Lake Union
• is extremely rare and generates ample consumer draw to the site.
• OUTSTANDING DEMOGRAPHICS
• The Property’s 1-mile trade area generates a daytime population of 132,033
• — with over 111,000 workers — and the South Lake Union district draws 13
• million non-resident visits annually, creating a dense, captive consumer base
• that drives consistent foot traffic seven days a week.