Colliers International’s McKay | Chhan | Wayne present the 5th & Main Development site, a 14,400 square foot assemblage located in an opportunity zone, at the hard corner signalized intersection of 5th Avenue and Main Street in the International District of Downtown Seattle.
The site is rectangular in shape with alley access and no parking is required by code. The 5th and Main development site benefits from immediate proximity to the Seattle Streetcar, Light Rail, and King Street Stations. This connectivity provides direct access to major employers, adjacent neighborhoods, and primary destinations throughout the Puget Sound Region. With a transit score of 100 and a walk score 98, 5th & Main is surrounded by an abundance of amenities, restaurants, and services.
The International District is located within Downtown Seattle and is a neighborhood on the rise. The Koda Condominiums across the street are over 50% pre-sold or reserved and are listed at an average of $1,115 per sq ft. Additionally, 4,000,000 sq ft of office space is currently under construction or planned in the immediate area that could bring 26,000 jobs to the community.
Ground Lease Terms
The owners are seeking proposals for an unsubordinated, absolute net, 99 year ground lease. Proposals must include:
Land value offered
Annual base rent
Base rent escalations
HIGH-RISE DEVELOPMENT SITE
100 TRANSIT SCORE
ID Light Rail Station - Red Line
3 minutes to Downtown
29 min to Seatac International Airport
7 min to Capitol Hill \
11 min to University of Washington
18 min to Northgate
ID Light Rail Station - Blue Line (opening 2023)
9 minutes to Mercer Island
19 minutes to Downtown Bellevue
29 minutes to Redmond Technology Center (Microsoft Headquarters )
Fifth & Main is within a 10 minute walk to a large amount of major Seattle employers.
Colliers International WA LLC is the exclusive Listing Brokerage for the Offering.
Tim McKay, Dan Chhan & Sam Wayne exclusively represent the Lessor in the lease of Fifth & Main.
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