Seattle, WA (September 22, 2021) -- Jamestown, a global, design-focused real estate investment and management firm, today announced its entry into the Seattle market with the acquisition of Home Plate Center, an approximately 348,000-square-foot, two-building office campus in Seattle’s South of Downtown (SoDo) neighborhood. Located near T-Mobile Park and Lumen Field, the property has direct access to I-90 and the I-5 freeways.
“With its large and growing tech industry, highly-educated workforce, and proximity to nature, Seattle continues to be one of the most desirable urban centers in the country,” said Michael Phillips, President of Jamestown. “We believe Home Plate Center presents a long-term differential value to a diverse range of tenants given its tremendous interstate access, ample parking, large floor plates, and location at the northern gateway of SoDo.”
Comprising of a six-story building at 1501 1st Avenue South and seven-story building at 1521 1st Avenue South, the campus includes approximately 329,000 square feet of office space and 19,000 square feet of retail, as well as a 546-space parking garage.
The property is currently 94% leased to a diverse roster of tenants working within technology, software, TV broadcasting, and government. Tenants include Facebook subsidiary Oculus, local news network KING 5, and Verizon.
Jamestown has a long-term ownership and management perspective and is recognized throughout the world as a community-focused, sustainable real estate firm. In 2020, Jamestown committed to reaching net zero carbon emissions portfolio-wide by 2050.
The transaction was brokered by Newmark.
About Jamestown:
Jamestown is a global, design-focused real estate investment and management company with a clear mission to transform spaces into innovation hubs and community centers. Jamestown employs more than 400 people worldwide with headquarters in Atlanta, Georgia, and Cologne, Germany, and offices in Amsterdam, Bogotá, Boston, London, Los Angeles, Madrid, Milan, New York, and San Francisco. Since its founding in 1983, Jamestown has executed transactions in excess of $35 billion. As of June 30, 2021, Jamestown has assets under management of $12.4 billion and a portfolio spanning key markets throughout the U.S., Latin America, and Europe. Current and previous projects include Chelsea Market in New York City, Industry City in Brooklyn, Ponce City Market in Atlanta, Ghirardelli Square in San Francisco, the Innovation and Design Building in Boston, and Groot Handelsgebouw in Rotterdam. Jamestown also invests in real estate startups and technology businesses that differentiate its properties and enable innovation across its portfolio. For more information, visit www.jamestownlp.com.
