Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire Olympic Block (the “Property” or “Building”), an historic creative office and mixed-use asset in Seattle’s generational Pioneer Square neighborhood. Comprising a six-story original building known as the Lippy Building, constructed in 1902, and a nine-story addition known as Olympic Block, added in 1986, the Property showcases a unique blend of creative office space, aesthetically enhanced by exposed brick and beam ceilings, walls, and columns, perfectly embodying Pioneer Square’s irreplaceable history and promising future. Olympic Block performed exceptionally well prior to the effects of Covid with nearly 20,000 square feet (~27% of RSF) of new leases, renewals, and expansions inked in the 6 months leading up to March 2020, bringing the Property’s occupancy to 100% in Q2 2020. The 74,660 square foot Property is conveniently located along Yesler Way, one of the most accessible locations in the greater Seattle CBD with a wide array of heavy and light rail stations, bus stops, on ramps to Seattle’s major arterials, and ferry terminals all within a 5-minute walk.

Despite the challenges posed by the Pandemic, the Pioneer Square submarket is undergoing a remarkable resurgence. The ongoing $750 million master-planned redevelopment of the Seattle Waterfront is and will continue to inject new life into the neighborhood and its surrounding areas, attracting an influx of tourists, locals, and tenants alike. These improvements will be located right at the front door of Olympic Block.

Investors have the ability to implement thoughtful improvements, such as opening up suite ceilings, uncovering unique brick and beam elements, exposing concrete flooring in respective suites, adding a rooftop tenant amenity deck on the 6th floor, and much more. These enhancements would not only breathe new life into the Property, but reinforce its connection to the neighborhood’s dynamic atmosphere and enable tenants to be a part of the vibrancy and success the Property experienced prior to the Pandemic.

OLYMPIC BLOCK FUNDAMENTALLY EMBODIES THE VERY BEST OF PIONEER SQUARE AND WILL PROPEL ITSELF FORWARD VIA THOUGHTFUL BUILDING IMPROVEMENTS THAT ACCENTUATE THE EXISTING CREATIVE OFFICE PROFILE AND COMPLIMENT THE PLANNED AND ONGOING IMPROVEMENTS OCCURRING THROUGHOUT THE SUBMARKET.