SoDo Center is a highly desirable property located in an irreplaceable location. Situated across the street from Starbucks Global HQ, the largest coffeehouse chain in the world, the property benefits from the high employment and foot traffic generated by Starbucks. Additionally, the center is just blocks away from T-Mobile Park and Lumen Stadium, home to the Seattle Mariners, Seattle Seahawks, and Seattle Sounders, drawing millions of people for games and concerts. The property’s strategic position 1 ¼ miles south of downtown Seattle provides immediate access to major highways and the city’s bustling CBD, which is home to major tech companies like Amazon, Google, Facebook, and Salesforce.
The property’s location in the heart of SODO, a major commercial corridor, ensures strong business demand from various industries. SODO has experienced significant development and transformation, with the presence of Starbucks HQ, sports stadiums, and recent multi-family, office, and hotel developments. The property is 100% leased, providing stability and ease of management, and the tenants have contracted annual rental increases, ensuring solid NOI growth. The property also benefits from high-density and high-income trade area, with average household incomes exceeding $140,000 within a 1-mile radius and projected to increase by 20% over the next 4 years. The center enjoys premium visibility and access, located directly off 1st Ave S with over 25,000 VPD passing in front of it. Furthermore, the property benefits from the upcoming link light rail expansion, with two nearby stations providing convenient transportation options for the region. Overall, SoDo Center offers a rare and highly sought-after investment opportunity in Seattle.
IRREPLACEABLE LOCATION
100% LEASED
NNN LEASES
NOI GROWTH/ANNUAL CONTRACTED RENTAL INCREASES
SEVERE BARRIERS TO ENTRY
RECENT CAPITAL IMPROVEMENTS
SODO/STRONG BUSINESS DEMAND
HIGH-DENSITY, HIGH-INCOME TRADE AREA
PREMIUM VISIBILITY AND ACCESS
SEASONED TENANCY
LINK LIGHT RAIL