Properties > 111 South Jackson

111 South Jackson | Seattle, WA

111 South Jackson is a 75,000 square-foot office building located in the Pioneer Square area of downtown Seattle. Built at the turn of the century, the property has high, wooden beam ceilings, exposed brick walls and fine detailing on its sandstone exterior. Atop the property is a large glass enclosed pavilion with direct views of the waterfront.

The property was purchased from a local group facing the departure of the sole office tenant. After entering into a purchase agreement for the asset, we signed a lease for the entire property with Screenlife, Inc., a rapidly growing video gaming company. Prior to their occupancy we completed a full seismic retrofit. Post closing, Screenlife surrendered the top two floors in the building at a time of rising rental rates.

Pioneer Square suffered with the end of the technology bubble but tenants slowly returned, drawn by the area’s shops and restaurants and noteworthy architecture. After renovation, 111 South Jackson was one of the top assets in Pioneer Square given its superior location and distinctive interior space. Microsoft was drawn to the property and leased the floors given back by Screenlife. Within two years, 111 South Jackson was sold at a substantial premium to our investment in the asset.