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Date Oct 2016
Sale Type Investment
Cap Rate 4.50%
RBA 285,310 SF
Stories 11
Typical Floor 28,000 SF
Class A
Construction Reinforced Con…
Building Ht 120′
Year Built Sep 2015
Tenancy Multi
Owner Occup No
Slab to Slab 10′
Land Acres 0.96 AC
Bldg FAR 6.82
Land SF 41,818 SF
2 Other Tenants
Bus Line
Energy Star Labeled
Signage
Sold Price $179,821,572 ($630.27/SF)
Financing Down Payment of $78,821,572 (43.83%)
1st Mortgage: Cantor Commercial Real Estate Lending LP (3.4%)
Bal/Pmt: $101,000,000/-
Type 4 Star Office
CoStar Est. Rent $53 – 65/fs (Office)
Property Mix Retail 5,000 SF
Parking 250 Covered Spaces are available; Ratio of 1.10/1,000 SF
Taxes $5.24/SF (2019)
Walk Score® Walker’s Paradise (99)
Transit Score® Rider’s Paradise (100)
Parcel 337440-0020
Name Exp Date SF Occupied
Redfin Jul 2027 112,989 SF
Home Box Office, Inc. May 2025 112,222 SF
WeWork – 40,567 SF
Metropolitan Deli+Cafe Jul 2026 1,861 SF
Freshy’s Aug 2025 1,489 SF
Deed Buyers-Press Release
Loan
12.0% 9.5%
11.4% 9.3%
Sign Date SF Leased Use Rent Rent Type
Jul 2016 1,861 SF Retail – –
May 2016 112,989 SF Office $35.25/NNN Effective
Dec 2015 1,218 SF Retail – –
May 2015 112,222 SF Office $41.66/NNN Effective
Aug 2014 1,489 SF Retail – –
True Owner Hudson Pacific Properties, Inc.
Recorded Owner Hudson 1099 Stewart LLC
Developer Touchstone Corporation
Property Manager Hudson Pacific Properties, Inc.
Architect Aedas
Primary Leasing Colliers International
Last Sale
1 Mi 3 Mi
Population 97,350 253,500
Households 59,889 133,675
Average Age 38.50 37.90
Median HH Income $84,046 $88,287
Daytime Employees 192,110 332,900
Population Growth ’19-’24
Household Growth ’19-’24
Sale
Building
Land
Tenants
Amenities
Leasing Activity
Market Conditions
Vacancy Rates Current YOY Change
Subject Property 0.0% 0.0%
Submarket 3-5 Star 6.5% -3.1%
Market Overall 5.9% -0.7%
Market Rent Per SF
Submarket 3-5 Star $47.87 6.1%
Market Overall $37.38 5.7%
Submarket Leasing Activity
12 Mo. Leased SF 2,371,912 45.2%
Months on Market 13.4 0.1 mo
Submarket Sales Activity Current Prev Year
12 Mo. Sales Volume (Mil.) $2,945.6 $1,517.1
12 Mo. Price Per SF $603 $590
Property Contacts
Documents
Assessment
2018 Assessment
Improvements
Land
Total Value
$152,090,200
$28,110,800
$180,201,000
$533.07/SF
$672.22/SF
$4,309.17/SF 100% of last sale
Demographics
CoStar https://product.costar.com/detail/all-properties/9004165/summary
1 of 4 11/20/2019, 12:17 PM
Transit/Subway Drive Walk Distance
Westlake & 7th North Transit Stop (South Lake… 2 min 8 min 0.4 mi
Westlake Ave & 7th Ave Transit Stop (South… 2 min 8 min 0.4 mi
Westlake Ave & 9th Ave Transit Stop (South… 2 min 8 min 0.4 mi
Westlake Ave & Virginia St Transit Stop (South… 2 min 8 min 0.4 mi
Westlake & 7th South Transit Stop (South Lake… 2 min 8 min 0.4 mi
Commuter Rail Drive Walk Distance
King Street (Seattle) Station Commuter Rail… 5 min 1.8 mi
Airport Drive Walk Distance
Kenmore Air Harbor Inc Airport 25 min 13.4 mi
Seattle-Tacoma International Airport 24 min 13.5 mi
Made with TrafficMetrix® Products
Collection Street Cross Street Traffic Vol Year Distance
Boren Ave Stewart St NW 16,615 2018 0.02 mi
Stewart St Boren Ave NE 16,242 2018 0.03 mi
Howell St Terry Ave SW 20,646 2018 0.06 mi
Boren Ave Howell St NW 21,415 2018 0.07 mi
Collection Street Cross Street Traffic Vol Year Distance
Howell St Minor Ave NE 8,704 2018 0.08 mi
Zip 98101
Submarket Seattle CBD
Submarket Cluster Downtown Seattle
Market Seattle/Puget Sound
County King
State Washington
CBSA Seattle-Tacoma-Bellevue, WA
DMA Seattle-Tacoma, WA
Property ID: 9004165
Building Notes
• 285,000 SF office building
• Excellent city and water views
• ±28,000 SF floorplates (11 floors)
• 3 levels of below-grade parking with estimated ratio of 1:1,000 SF
• Secured bike room, showers, and locker rooms
• Dedicated conference facility
• Experienced and proven developer
• Vibrant lobby and common areas
Amenities
• 1,800 SF building conference room
• Outdoor deck and beautiful views
• Showers and bike storage
• Lobby with wifi and collaborative spaces
• water efficient
• Hotel conference facilities and catering
• Coffee, snacks, lunch fare, and happy hour amenities available on-site
Neighborhood
• Walk score: 100
• Conveniently centered at the junction of South Lake Union, Capitol Hill, and the Retail
Core
• Within walking distance to a diverse selection of eateries, such as LaLot, FareStart, and
Melrose Market
• Close to popular retail and shopping venues, including Pacific Place, Westlake Center,
Nordstrom’s, and REI
• Experience the uniqueness of Capitol Hill or the novelties of South Lake Union within a
short, 5-minute walk
• Near hotels, car rentals, and other business conveniences getting around
• Transit score: 100
• Fantastic ingress and egress – only 2 blocks to I-5’s on- and off-ramps
• Connections to Link Light Rail and a wide selection of common bus routes can be found
at Seattle’s transit tunnel, just 1 block away
Public Transportation
Traffic
Location
CoStar https://product.costar.com/detail/all-properties/9004165/summary
2 of 4 11/20/2019, 12:17 PM
CoStar https://product.costar.com/detail/all-properties/9004165/summary
3 of 4 11/20/2019, 12:17 PM
CoStar https://product.costar.com/detail/all-properties/9004165/summary
4 of 4 11/20/2019, 12:17 PM

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Date Sep 2005
Sale Type Investment
Properties 4
Units 761
Avg Unit Size 845 SF
Stories 15
Year Built 2000
Class B
GBA 1,061,655 SF
Typical Floor 62,284 SF
Building Ht 193′
# of Buildings 4
Units per Acre 304
Market Segment All
Rent Type Market
Construction Reinforced Co…
Elevators 22
Metering Individually Met…
Roof Flat
Land Acres 2.50 AC
Bldg FAR 9.77
Land SF 108,687 SF
Air Conditioning
Balcony
Bay Window
Cable Ready
Dishwasher
Heating
High Speed Internet Access
Kitchen
Microwave
Range
Refrigerator
Satellite TV
Sprinkler System
Tub/Shower
Vaulted Ceiling
Views
Walk-In Closets
Washer/Dryer
Wheelchair Accessible (Rooms)
Basketball Court
Business Center
Controlled Access
Dry Cleaning Service
Elevator
Fitness Center
Furnished Units Available
Gated
Grill
Guest Apartment
Laundry Facilities
Media Center/Movie Theatre
Package Service
Picnic Area
Playground
Pool
Property Manager on Site
Renters Insurance Program
Sauna
Spa
Storage Space
Tennis Court
Volleyball Court
Walking/Biking Trails
Sold Price $171,788,831 – Portfolio Price
Financing 1st Mortgage: La Salle Bank (Assumed)
Bal/Pmt: $100,000,000/-
Type 4 Star Hi-Rise Apartments
Parking 413 Covered Spaces are available; 0.5 per Unit
Taxes $652.81/Unit (2013)
Opex $11,869.97/Unit (2010)
Walk Score® Walker’s Paradise (98)
Transit Score® Rider’s Paradise (100)
Zoning DMC160, Seattle
Parcel 766620-2465
Unit Amenities
Site Amenities
Updated November 20, 2019
12.2% 9.6%
12.0% 9.4%
Made with TrafficMetrix® Products
Beds Units Avg SF Asking Rent/Unit Asking Rent/SF Concessions
Studio 196 575 $2,021 $3.52 0.4%
1 311 801 $2,480 $3.10 0.4%
2 254 1,109 $3,367 $3.04 0.4%
Totals 761 845 $2,658 $3.14 0.4%
True Owner Equity Residential
Recorded Owner Eqr-harbor Steps Llc
Property Manager Equity Residential – Harbor Steps
Primary Leasing Kidder Mathews
1 Mi 3 Mi
Population 74,599 235,185
Households 44,676 126,118
Average Age 40.10 38.70
Median HH Income $76,644 $88,805
Daytime Employees 180,529 296,969
Population Growth ’19-’24
Household Growth ’19-’24
Collection Street Cross Street Traffic Vol Year Distance
Post Ave Spring St SE 10,103 2018 0.03 mi
1st Ave Seneca St SE 13,331 2018 0.05 mi
Western Ave Seneca St NW 9,397 2018 0.05 mi
1st Ave Seneca St NW 16,520 2018 0.06 mi
Alaskan Way Viaduct Seneca St NW 34,000 2015 0.07 mi
Sale
Building
Land
Amenities
Building Notes
The bed-bath mix, unit counts and sizes are estimated per property management.
Unit Mix
Market Conditions
Vacancy Rates Current YOY Change
Subject Property 2.0% 0.4%
Submarket 3-5 Star 6.2% -4.2%
Market Overall 5.3% -0.7%
Market Rent Per Unit
Subject Property $2,658 5.5%
Submarket 3-5 Star $2,555 3.8%
Market Overall $1,715 3.6%
Concessions
Subject Property 0.4% 0.1%
Submarket 3-5 Star 1.2% -3.4%
Market Overall 0.9% -1.1%
Under Construction Units
Market Overall 21,534 -7.6%
Submarket Sales Activity Current Prev Year
12 Mo. Sales Volume (Mil.) $469.9 $168.3
12 Mo. Price Per Unit $546,145 $511,329
Property Contacts
Demographics
Traffic
Assessment
2018 Assessment
Improvements
Land
Total Value
$89,235,000
$11,952,000
$101,187,000
$117,260/Unit
$15,706/Unit
$132,966/Unit
CoStar https://product.costar.com/detail/all-properties/4681104/summary
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Transit/Subway Drive Walk Distance
Commuter Rail Drive Walk Distance
King Street (Seattle) Station Commuter Rail… 3 min 18 min 0.8 mi
Airport Drive Walk Distance
Seattle-Tacoma International Airport 24 min 13.1 mi
Kenmore Air Harbor Inc Airport 26 min 14.3 mi
Name Exp Date SF Occupied
1,000 Spirits Jul 2022 4,359 SF
Centre Home Design – 4,059 SF
Equity Residential – Northwest Regional Office – 3,000 SF
Harley-Davidson – 3,000 SF
5 Other Lease Comps
Sign Date SF Leased Use Rent Rent Type
Sign Date SF Leased Use Rent Rent Type
Feb 2019 3,235 SF Retail $25.00/NNN Starting
Aug 2017 1,468 SF Retail $50.00 – 60.00/NNN Asking
May 2017 708 SF Retail – –
Mar 2015 4,255 SF Off/Ret $19.00/NNN Asking
Mar 2015 2,034 SF Retail $25.00/NNN Asking
Zip 98101
Submarket Downtown Seattle MF
Submarket Cluster Downtown Seattle MF
Market Seattle/Puget Sound
County King
State Washington
CBSA Seattle-Tacoma-Bellevue, WA
DMA Seattle-Tacoma, WA
Map (Page) Thomas Bros. Guide 564 J6
Property ID: 4681104
Public Transportation
Tenants
Leasing Activity
Location
CoStar https://product.costar.com/detail/all-properties/4681104/summary
2 of 5 11/20/2019, 12:19 PM
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3 of 5 11/20/2019, 12:19 PM
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CoStar https://product.costar.com/detail/all-properties/4681104/summary
5 of 5 11/20/2019, 12:19 PM

 

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