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A CBRE NATIONAL PARTNERS INVESTMENT OPPORTUNITY
SEATTLE AREA MULTIFAMILY DEVELOPMENT OPPORTUNITY3 9 . 9 A C R E S O F P R I M E L A N D
S E A T A C / T U K W I L A S O U T H : H E A R T O F T H E M A R K E T
SITE
1 SEATTLE AREA MULTIFAMILY DEVELOPMENT OPPORTUNITY
EXECUTIVE SUMMARYEXECUTIVE SUMMARY
PROPERTY SNAPSHOTS
11.5 ACRES
MULTIFAMILY
EIS COMPLETED
PART OF TUKWILA MASTERPLANNED SITE
TUKWILA SOUTH MULTIFAMILYSEATAC MULTIFAMILY
28.4 ACRES
MULTIFAMILY
ZONED UH-900
STRATEGIC SEATAC LOCATION
THE OPPORTUNITYCBRE, Inc. is excited to present an excellent opportunity to acquire three adjoining land sites totaling 39.9 acres of readily developable multifamily land in one of the most desired and land-constrained regional markets: Seattle, Washington. The three sites straddle the cities of SeaTac and Tukwila and span an east-facing pristine hillside that overlooks the Kent Valley with stunning views of Mt. Rainier. One of the sites is in SeaTac (28.4 acres); two of the sites are in Tukwila (11.5 acres) and are referred to as “Tukwila South.” Both of the Tukwila South sites already have a successfully completed Environmental Impact Study (EIS).
The Seattle Multifamily Land Opportunity (the “Property”) has been prepared for development by Segale Properties LLC (“Segale”), one of the leading land owners in the Washington area. This Property offers an investor the near-term potential to develop either for-sale or for-rent product in an area with strong demographics and some of the most dynamic job growth in the country. The Property is located within walking distance to the Southcenter retail corridor, including Westfield Southcenter Mall, a regional shopping center anchored by numerous national retailers offering dining, shopping, and entertainment venues.
Current ownership has retained the architectural firm of Collins Woerman to prepare a feasibility study for the parcels. Collins Woerman envisions a European-style hillside village multifamily project with 924 units in 26 five-story buildings along with 1,230 surface parking stalls. The sites and design lend themselves to a pedestrian and family-oriented development that is close to transit, retail, jobs and recreation. A copy of Collins Woerman’s feasibility study is available in the CBRE download center.
The parcels are adjacent to the 227-acre Tukwila South site, a component of the Seattle Urban Land Portfolio (also owned by Segale), which will be developed as a master planned, mixed-use, “Work-Live-Play” site. The common areas serving the Seattle Multifamily Land Opportunity and the adjacent Seattle Urban Land Portfolio will be managed by a shared Owners Association.
DEVELOPMENT HIGHLIGHTS· 924 units· 26 buildings· 5-story wood-frame· Varying unit sizes to meet family needs· 1,230 surface parking stalls· European-style hillside village· Spectacular views of Mount Rainier· Pedestrian and family oriented
LOCATION HIGHLIGHTS· Prime location in one of the best submarkets in the Puget Sound area· Excellent proximity to the surrounding metropolitan markets, Sea-
Tac International Airport, and Ports of Seattle and Tacoma· Quick access to major arterials: I-5, I-405, SR-167, and Hwy-99· Tremendous surrounding retail amenities in the Tukwila area:
Southcenter retail corridor, Westfield Southcenter Mall and Park-way Super Center
· Close to major transportation, employers, recreation and shopping
2EXECUTIVE SUMMARY
LOCATION AERIAL
Project Address Size (Acres)SeaTac South of S. 178th St. & East of I-5, SeaTac, WA 28.4Tukwila South South of S. 178th St. & East of I-5, Tukwila, WA 11.5Total Acreage 39.9
S 200th St
Southcenter Parkway
5
5
90
RENTON
TUKWILASEATAC
DOWNTOWNBELLEVUE
DOWNTOWNSEATTLE
SEA-TAC INTERNATIONAL AIRPORT
SEATAC SITE
S 204th St
Orillia Rd S
ANGLE LAKE TUKWILA SOUTH SITES
3 SEATTLE AREA MULTIFAMILY DEVELOPMENT OPPORTUNITY
SITE PLAN
7
SE
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TIF
AM
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LA
ND
OP
PO
RT
UN
ITY
SE
AT
AC
/ TU
KW
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SO
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H | S
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WO
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Site Plan
APT. MULTIFAMILY PROGRAM
STUDIO 10% 92 Units
1 BEDROOM 40% 370 Units
2 BEDROOM 40% 370 Units
3 BEDROOM 10% 92 Units
TOTALS 924 Units
MULTIFAMILY / TOWNHOME PROGRAM
STUDIO 10% 87 Units
1 BEDROOM 40% 347 Units
2 BEDROOM 40% 347 Units
3 BEDROOM 10% 87 Units
TOWNHOMES 19 Units
TOTALS 887 Units
PARKING PROVIDED: 1,230 Surface Parking Stalls
PARKING PROVIDED: 1,230 Surface Parking Stalls
PARKING RATIO: 1.3 Stalls per Unit
PARKING RATIO: 1.4 Stalls per Unit
Conceptual Site Plan Alternatives
TOWNHOMES
KEY
APARTMENTS
APT. MULTIFAMILY PROGRAMSTUDIO 10% 92 Units1 BEDROOM 40% 370 Units2 BEDROOM 40% 370 Units3 BEDROOM 10% 92 UnitsTOTALS 924 Units
MULTIFAMILY / TOWNHOME PROGRAMSTUDIO 10% 87 Units1 BEDROOM 40% 347 Units2 BEDROOM 40% 347 Units3 BEDROOM 10% 87 UnitsTOWNHOMES 19 UnitsTOTALS 887 UnitsPARKING RATIO: 1.3 Stalls per Unit
PARKING PROVIDED: 1,230 Surface Parking Stalls PARKING RATIO: 1.4 Stalls per UnitPARKING PROVIDED: 1,230 Surface Parking Stalls
CONCEPTUAL SITE PLAN ALTERNATIVES
KEY
7
SE
AT
TL
E M
UL
TIF
AM
ILY
LA
ND
OP
PO
RT
UN
ITY
SE
AT
AC
/ TU
KW
ILA
SO
UT
H | S
EG
AL
E P
RO
PE
RT
IES
| CO
LL
INS
WO
ER
MA
N
Site Plan
APT. MULTIFAMILY PROGRAM
STUDIO 10% 92 Units
1 BEDROOM 40% 370 Units
2 BEDROOM 40% 370 Units
3 BEDROOM 10% 92 Units
TOTALS 924 Units
MULTIFAMILY / TOWNHOME PROGRAM
STUDIO 10% 87 Units
1 BEDROOM 40% 347 Units
2 BEDROOM 40% 347 Units
3 BEDROOM 10% 87 Units
TOWNHOMES 19 Units
TOTALS 887 Units
PARKING PROVIDED: 1,230 Surface Parking Stalls
PARKING PROVIDED: 1,230 Surface Parking Stalls
PARKING RATIO: 1.3 Stalls per Unit
PARKING RATIO: 1.4 Stalls per Unit
Conceptual Site Plan Alternatives
TOWNHOMES
KEY
APARTMENTSAPARTMENTS
TOWNHOMES
4EXECUTIVE SUMMARY
LOOKING WEST TOWARD SITE
SITE
AERIALS
VIEW NORTH FROM SITE
SITE
VIEW SOUTH FROM SITE VIEW NORTHEAST FROM SITE
5 SEATTLE AREA MULTIFAMILY DEVELOPMENT OPPORTUNITY
PREMIER TRANSPORTATION
SEATTLE AREA MULTIFAMILY DEVELOPMENT OPPORTUNITYDes Moines
BainbridgeIsland
Seattle
University of Washington
Capitol Hill
SODO
Georgetown
Lynnwood
Bothell
Everett
Kirkland
Bellevue
RentonTukwila
Southcenter
Kent
Burien
Seattle-TacomaInternational
Airport
SeaTac
CAPITAL MARKETS EXPERTS/TEAM LEADERS DEBT & STRUCTURED FINANCEINDUSTRIAL EXPERTS
MULTIFAMILY EXPERTS
DARLA LONGO CBREVice ChairmanLic. 00639911 +1 909 418 2105 [email protected]
MIKE CAPRILECBRE Vice ChairmanLic. 475137372+1 630 573 [email protected]
TAYLOR ODEGARDCBRE Vice PresidentLic. 112227+1 206 292 [email protected]
ELI HANACEKCBREExecutive Vice PresidentLic. 111438+1 206 292 [email protected]
FRANK BOSLCBRESenior Vice PresidentLic. 19557+1 206 292 [email protected]
KYLE YAMAMOTOCBREAssociateLic. 113875+1 206 292 [email protected]
ANDREW STARKCBRE First Vice PresidentLic. 77304+1 206 442 [email protected]
VAL ACHTEMEIERCBREExecutive Vice PresidentLic. 01868169+1 213 613 [email protected]
JON HALLGRIMSONCBREExecutive Vice PresidentLic. 28423+1 206 292 [email protected]
© 2017 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.
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SOUTHEASTChris RileyFrank FallonTrey BarryJennifer Klingler
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NORTH CENTRALMike CaprileRyan BainZach Graham
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SEATTLE AREA MULTIFAMILY DEVELOPMENT OPPORTUNITY3 9 . 9 A C R E S O F P R I M E L A N D
S E A T A C / T U K W I L A S O U T H : H E A R T O F T H E M A R K E T
WEBSITE: www.cbre-SeattleMultifamilyDevelopment.com