Overview
Lee & Associates Commercial Real Estate Services, LLC, is pleased to present the unique opportunity to acquire 760 Aloha, a premier Class A office property located in the heart of Seattle’s thriving South Lake Union neighborhood. The approximately 41,939 SF, six-story boutique building was constructed in May of 2023 and offers a rare combination of optionality for potential buyers, including owner-user office space, traditional value-add lease up, or a conversion to multifamily housing.
Investment Highlights
PRIME LOCATION
Situated in South Lake Union, which is Seattle’s premier innovation hub, 760 Aloha is surrounded by major employers including Amazon, Apple, Meta, Fred Hutchinson Cancer Center, Gates Foundation, and Alphabet. 760 Aloha is an ideal investment opportunity in one of the most sought-after submarkets in the region.
TROPHY ASSETS AT VALUE-ADD PRICING
Built in May of 2023, 760 Aloha is positioned to sell at a substantial discount to its $36.78M ($839/SF) replacement cost, representing an exceptional value-add investment opportunity in one of Seattle’s most desirable submarkets.
NEW CONSTRUCTION OUTPERFORMS THE COMPETITION
Tenants are willing to pay premium rents for newer Class A office spaces, especially in submarkets like South Lake Union, where buildings constructed in the last 20 years command an average of $41.75/SF FSG, a 10% premium over older buildings in the area ($38.00/SF FSG) and a 23% premium over the CBD average ($34.00/SF FSG).
AWARD-WINNING DEVELOPMENT
760 Aloha was recognized as the NAIOP Redevelopment/Renovation of the Year in 2023. This adaptive reuse project combines modern design with historic character, distinguishing itself as a unique asset in South Lake Union.
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INVESTMENT TEAM
