Se Connecter/S’inscrire
Votre courriel a été envoyé.
Old Rainier Brewery 3100 Airport Way S 181 453 pi² 91% Loué Local d'activités Immeuble Seattle, WA 98134 40 679 486 $ CAD (224,19 $ CAD/pi²) 7,65% Taux de capitalisation
Certaines informations ont été traduites automatiquement.
Faits saillants de l'investissement
- $19M INVESTED BY OWNERSHIP
- BELOW-MARKET RENTS, ±22% ROLLING SOON
- $129K ANNUAL SIGNAGE INCOME
- 23,427 SF CONVERSION UPSIDE
- LANDMARK AIRPORT WAY LOCATION
- DISCOUNT TO REPLACEMENT COST
Résumé de l'annonce
The Old Rainier Brewery is a 181,453-square-foot creative mixed-use campus comprising 24 adjoined buildings at 3100 Airport Way South, the former Rainier Brewery and one of Seattle’s most recognized industrial landmarks. The offering is positioned for investors seeking durable, granular in-place income from a differentiated creative asset, together with two identifiable paths to further NOI growth. The finished space is approximately 91% leased across a diversified tenant base of live/work lofts, creative office and flex users, and retail, anchored by Groove Universe, an operator of soundproof recording and rehearsal studios, and Little Red Day Spa, a full-service spa, with additional frontage income from a drive-thru coffee tenant.
Current ownership has invested approximately $19.0 million during its hold, the substance of which addresses the building’s most capital-intensive systems. Roughly $12.2 million funded the abatement of legacy PCB conditions (remediation complete, final regulatory closure in process), and approximately $6.8 million funded building and tenant improvements: structural buildout of rentable space, new sprinkler and utility-metering systems, removal of the former tank farm, replacement of roofs and plumbing lines, elevator overhauls, and interior renovations across the retail, spa, studio, and live/work components. In combination with prior seismic upgrades, this capital materially de-risks the physical plant and allows a buyer to underwrite operations and lease-up rather than base-building expenditure. The tenancy is intentionally granular and use-diverse, which both diversifies income and reflects sustained, hard-to-replicate demand for creative space at this scale within the Seattle market.
Two levers support forward returns: 23,427 square feet of unfinished shell space is positioned for conversion to additional live/work lofts, with the Master Use Permit in process, and a meaningful share of the rent roll, approximately 22% of leased space, currently sits on holdover or near-term expiration, providing mark-to-market and lease-up upside on renewal. The result is a stabilized, income-producing creative campus with a clear, self-directed path to value creation.
Current ownership has invested approximately $19.0 million during its hold, the substance of which addresses the building’s most capital-intensive systems. Roughly $12.2 million funded the abatement of legacy PCB conditions (remediation complete, final regulatory closure in process), and approximately $6.8 million funded building and tenant improvements: structural buildout of rentable space, new sprinkler and utility-metering systems, removal of the former tank farm, replacement of roofs and plumbing lines, elevator overhauls, and interior renovations across the retail, spa, studio, and live/work components. In combination with prior seismic upgrades, this capital materially de-risks the physical plant and allows a buyer to underwrite operations and lease-up rather than base-building expenditure. The tenancy is intentionally granular and use-diverse, which both diversifies income and reflects sustained, hard-to-replicate demand for creative space at this scale within the Seattle market.
Two levers support forward returns: 23,427 square feet of unfinished shell space is positioned for conversion to additional live/work lofts, with the Master Use Permit in process, and a meaningful share of the rent roll, approximately 22% of leased space, currently sits on holdover or near-term expiration, providing mark-to-market and lease-up upside on renewal. The result is a stabilized, income-producing creative campus with a clear, self-directed path to value creation.
Faits sur la propriété
Commodités
- Affichage
Services publics
- Eau - Ville
- Égout - Ville
- Chauffage
Principaux locataires
- Locataire
- Secteur
- pi² Occupé
- Loyer/pi²
- Type de bail
- Fin du bail
-
- Services de gestion des déchets et d’assainissement
- -
- -
- -
- -
1-800-GOT-JUNK? is a full-service junk removal company. They offer Junk Removal services for home or business. Have old furniture, appliances, electronics, tires, construction debris, or yard waste that need to be disappeared? 1-800-GOT-JUNK? can take away almost any material they can fit in their trucks, without ever lifting a finger.
-
- Services professionnels, scientifiques et techniques
- -
- -
- -
- -
Actuate Media facilitates data-driven business-to-consumer relationships through digital marketing channels. We strategize and implement conversion-focused digital advertising campaigns, capturing the data to improve our clients' marketing intelligence providing them a competitive advantage within their industry. This makes us a little different from other digital marketing agencies and media companies.
- Calyx King
- Administration publique
- -
- -
- -
- -
- Capoeira Males
- Services éducatifs
- -
- -
- -
- -
- Casabella Home Care Service
- Soins de santé et assistance sociale
- -
- -
- -
- -
- Casual Industrees
- Détaillant
- -
- -
- -
- -
- Creedow Construction
- Construction
- -
- 12,61 $ CAD
- Loyer hypernet
- Mars 2025
- Crown Social Agency
- Arts, divertissement et loisirs
- -
- -
- -
- -
- Life Engineered
- Arts, divertissement et loisirs
- -
- 22,42 $ CAD
- Loyer hypernet
- Févr. 2026
- Veteran Fire Systems
- -
- -
- 31,10 $ CAD
- Brut modifié
- Avr. 2029
| Locataire | Secteur | pi² Occupé | Loyer/pi² | Type de bail | Fin du bail | |
|
|
Services de gestion des déchets et d’assainissement | - | - | - | - | |
|
|
Services professionnels, scientifiques et techniques | - | - | - | - | |
| Calyx King | Administration publique | - | - | - | - | |
| Capoeira Males | Services éducatifs | - | - | - | - | |
| Casabella Home Care Service | Soins de santé et assistance sociale | - | - | - | - | |
| Casual Industrees | Détaillant | - | - | - | - | |
| Creedow Construction | Construction | - | 12,61 $ CAD | Loyer hypernet | Mars 2025 | |
| Crown Social Agency | Arts, divertissement et loisirs | - | - | - | - | |
| Life Engineered | Arts, divertissement et loisirs | - | 22,42 $ CAD | Loyer hypernet | Févr. 2026 | |
| Veteran Fire Systems | - | - | 31,10 $ CAD | Brut modifié | Avr. 2029 |
Disponibilité des espaces
- Espace
- Taille
- Utilisation de l’espace
- Aménagement
- Disponible
Great work loft available on the second floor. Utility sink, lots of natural light, high ceilings, lots of electric available.
Fully built out exercise studio with its own bathroom. All walls mirrored with hardwood floors.
| Espace | Taille | Utilisation de l’espace | Aménagement | Disponible |
| 2e Ét. - 08-250 | 1 260 pi² | Flex | construction partielle | Maintenant |
| 2e Ét. - 18-240 | 880 pi² | Flex | construction complète | Maintenant |
| 2e Ét. - 25-500 | 1 560 pi² | Flex | construction complète | Maintenant |
2e Ét. - 08-250
| Taille |
| 1 260 pi² |
| Utilisation de l’espace |
| Flex |
| Aménagement |
| construction partielle |
| Disponible |
| Maintenant |
2e Ét. - 18-240
| Taille |
| 880 pi² |
| Utilisation de l’espace |
| Flex |
| Aménagement |
| construction complète |
| Disponible |
| Maintenant |
2e Ét. - 25-500
| Taille |
| 1 560 pi² |
| Utilisation de l’espace |
| Flex |
| Aménagement |
| construction complète |
| Disponible |
| Maintenant |
2e Ét. - 08-250
| Taille | 1 260 pi² |
| Utilisation de l’espace | Flex |
| Aménagement | construction partielle |
| Disponible | Maintenant |
Great work loft available on the second floor. Utility sink, lots of natural light, high ceilings, lots of electric available.
1 de 1
Vidéos
Visite extérieure 3D Matterport
Visite 3D Matterport
Photos
Vue depuis la rue
Rue
Carte
2e Ét. - 18-240
| Taille | 880 pi² |
| Utilisation de l’espace | Flex |
| Aménagement | construction complète |
| Disponible | Maintenant |
1 de 1
Vidéos
Visite extérieure 3D Matterport
Visite 3D Matterport
Photos
Vue depuis la rue
Rue
Carte
2e Ét. - 25-500
| Taille | 1 560 pi² |
| Utilisation de l’espace | Flex |
| Aménagement | construction complète |
| Disponible | Maintenant |
Fully built out exercise studio with its own bathroom. All walls mirrored with hardwood floors.
1 1
Moyennement accessible à pied
70/100
Exceptionnellement adapté aux voitures
100/100
Bons transports en commun
70/100
Moyennement accessible en vélo
60/100
Impôts fonciers
| Numéro de lot | 713540-0190 | Évaluation des bâtiments | 42 172 $ CAD |
| Évaluation du terrain | 66 270 $ CAD | Évaluation totale | 108 441 $ CAD |
Impôts fonciers
Numéro de lot
713540-0190
Évaluation du terrain
66 270 $ CAD
Évaluation des bâtiments
42 172 $ CAD
Évaluation totale
108 441 $ CAD
1 de 67
Vidéos
Visite extérieure 3D Matterport
Visite 3D Matterport
Photos
Vue depuis la rue
Rue
Carte
1 de 1
Présenté par
Old Rainier Brewery | 3100 Airport Way S
Vous êtes déjà membre? Connectez-vous
Hmm, il semble y avoir eu une erreur lors de l’envoi de votre message. Veuillez réessayer.
Merci! Votre message a été envoyé.