May 31, 2017
Pier 54 LLC, an affiliate of Los Angeles-based A.F. Gilmore Co., completed a sale-leaseback of Ivar’s on Pier 54 in Seattle for $39.5 million. The transaction includes a 29-year lease for Ivar’s Acres of Clams, as well as 20-year leases for the Fish Bar and a new Kidd Valley slated to open in June.
Kidder Mathews’ Andy Miller, Jason Rosauer and Rob Anderson represented Ivar’s in the transaction. The buyer was self-represented.
Ivar’s founder Ivar Haglund began acquiring the 1.38-acre property during the 1960s and 1970s, and subsequently completed a series of renovations. Improvements included a full seismic retrofit, adding 22,000 square feet of creative office loft space, and an expanded kitchen.
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