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<div style="display: flex; flex-direction: column; margin-top: 0.15rem; width: 200px; height: fit-content; align-items: left;
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 <img src="https://cf.reverecre.com/cdn-cgi/image/w=200,h=undefined,fit=scale-down/https://storage.googleapis.com/revere-user-uploads/project%2F4b258e2f-7d51-4b26-bf8f-25c1b16bc34d%2F99f568a4-340c-4e61-9b71-4b362da5aaca" onerror="this.style.display='none'" alt="First &amp; Union Image" style="object-fit: cover; width: 200px;" />
 Retail 
 
 First &amp; Union
 
 Seattle, WA 
 By Northmarq

 <a href="/user/2a792e1d-8ac2-4713-a07c-77ba740e8556" style="margin-top: 0.5rem; font-size: 10px; text-decoration: underline;">Kevin Adatto</a>
 
 Managing Director
 
 
 <a href="tel:(503) 998-6572" style="margin-top: 0.25rem; font-size: 10px; text-decoration: underline;">(503) 998-6572</a>
 

 <a href="https://platform.reverecre.com/project/4b258e2f-7d51-4b26-bf8f-25c1b16bc34d" target="_blank" style="text-decoration: underline; color: #2E74B3; text-align: left; margin-top: 0.5rem">
 View Listing
 </a>
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For nearly 60 years, Northmarq has provided debt, equity, and loan servicing to commercial real estate owners and investors through our offices across the U.S. Our investment sales platform offers acquisition and disposition services for multifamily assets in select markets.

We offer clients the ideal combination of a strong national company capable of attracting a wide range of capital sources, a personalized approach to buying and selling multifamily properties, exceptional knowledge of local markets, and a robust loan servicing operation to manage the life of your loan.

Managing Director

Associate

Senior Vice President

Vice President

World Famous Pike Place Market: The Property is connected to Seattle’s famous Pike Place Market with high daily foot and vehicle traffic counts and exposure to over 10M annual visitors.

Owner-User/Value-Add Opportunity: Significant upside upon the lease-up of the 12,265 lower level and coveted corner space, increasing NOI by approximately 53% in Year 3. A variety of commercial, storage, entertainment or other uses are allowed.

Leasing Velocity: Significant recent leasing velocity with new leases executed by Vampire Penguin, Plantiful, and De’Core paying between $52-$65 PSF NNN.

Established Anchor Tenant: Well-established and committed anchor tenant in Pike Brewing Company who is consistently hitting percentage rent thresholds and owned by renowned Seattle Hospitality Group.

Long-Term Tenancy: Over 39% of the GLA has been occupied for over 10 years with a WALT of 7.63 years. .

Waterfront Revitalization: Nearby, the new $3.5 billion waterfront project is nearing completion (est. 2025) and will connect to the Property. In addition, the 2026 World Cup is estimated to bring over 100k people to Seattle.

Walkability and Connectivity: The Property is connected to the main entrance of Pike Place Market, the Waterfront, and Post Alley.

Return to Office: In close proximity to numerous Fortune 500 companies including Google and Amazon, of which the Property has benefited significantly from the return to office mandates recently issued.

Sales Team

The Offering provides the opportunity to acquire the commercial condo portion of the preeminent First & Union Building ("the Property") located in downtown Seattle's Pike Place Market neighborhood. The Property sits at the highly trafficked hard corner of 1st Avenue and Union Street, one of the city's busiest intersections and directly attached to the Pike Place Market, which attracted over 10M visitors in 2023, 4% higher than 2022 and matching pre-COVID highs. The Property also benefits from other nearby attractions such as the Four Seasons, Seattle Art Museum, Benaroya Hall, The Showbox, Miners Landing, Seattle Aquarium, and Great Wheel.

Kevin Adatto is Managing Director in Northmarq’s Portland office and focuses on investment sales of commercial properties throughout the Pacific Northwest and Intermountain West, working with both institutional and private clients. Throughout his nearly 25-year career, Adatto has built a reputation based on his client-first approach and an attention to detail that has allowed him to execute at a high level.

Prior to Northmarq, Adatto was a Managing Partner and Owner of CPX, LLC (formerly Capital Pacific) since 2005. Prior to joining CPX, he began his career at CBRE in 1999. Adatto has consistently been recognized as a top investment broker year over year.

Kevin received a B.A., Economics, University of Oregon. 

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