A waterfront development site in Belltown, Seattle sold for $6.7 million in an all-cash transaction to a Chinese national investor. The 11,300 square foot site has plans for multifamily, condominium, and retail development. Downtown Seattle is experiencing ongoing growth, with 65 buildings currently under construction, over 14 million square feet of office space in development, and major employers like Amazon and Facebook locating there. The sale price of $593 per square foot for the Belltown site was the second highest land value ever in the area.

1. JUST CLOSED
55 BELL - WATERFRONT DEVELOPMENT SITE
SUBJECT SITE
LEROY LUTU
OFFICE: (206) 826-5689
MOBILE: (206) 427-5756
leroy.lutu@marcusmillichap.com
SALE HIGHLIGHTS
»» All Cash at Closing, No Financing
»» Chinese National Investor, Offshore Capital
»» Management of Historical Designation Process
»» Multifamily/Condominium/Retail Development Plans
»» 75-Day Escrow
MARKET HIGHLIGHTS
»» Highest Price Per Square Foot On Land Value for Zoning in 2015 and 2016.
(2nd Highest Of All-Time)
»» Downtown’s Ongoing Boom Includes 65 Buildings Currently Under Construction
»» More Than 14 Million Square Feet of Office Space In Development Pipeline
»» Downtown’s Residential Population Has Grown by More Than 30 Percent Since
2000, Expected to Increase Another 10 Percent by 2020
»» Major Employers Choosing to Locate to Downtown Seattle
(Amazon, Facebook, Expedia, Etc.)
»» Growing Employment Rates and Continued Low Vacancy Rates
Seattle, WA
TYPE Land Development
Location: Belltown Waterfront
Sale Price: $6,700,000 ($593/SF)$
FOR MORE INFORMATION OR IF YOU ARE CONSIDERING SELLING YOUR PROPERTY & WOULD LIKE A COMPLIMENTARY ANALYSIS, CALL TODAY!
Picture Above: Pier 66, Directly Across From Subject Site
EXCLUSIVELY LISTED & SOLD BY:
CHRIS SECRETO
OFFICE: (206) 826-5748
MOBILE: (206) 612-4399
christopher.secreto@marcusmillichap.com