July 11, 2019 Comments (0) Views: 292 Seattle & Pacific Northwest News, Seattle News, Top Seattle

EverWest Enters Seattle, Claims Olympic Block

Denver-based EverWest Real Estate Investors, in partnership with Chilean-based fund manager Frontal Trust, entered the Seattle office market, acquiring the Olympic Block for a reported $34.3 million. The 73,184-square-foot technology-oriented, mixed-use office and retail building is located at 101 Yesler Way in the heart of downtown’s Pioneer Square, and was sold by New York-based Brickman.

The purchase includes six floors of the Olympic Block Building, built in 1986, six floors of the Lippy Building, built in 1889, and 8,576 square feet of street-level retail space. The project also includes three floors of residential space that is owned by a separate entity, and not part of the acquisition. The office, retail and residential spaces are served by a subterranean parking garage.

Olympic Block is currently 90% leased to a range of tech and corporate solutions office tenants and ground-floor restaurant tenants. EverWest owns roughly one-half million square feet of industrial space in the Puget Sound’s Kent Valley submarket.

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