SITE SEATTLE AREA MULTIFAMILY DEVELOPMENT OPPORTUNITY 39.9 ACRES OF PRIME LAND SEATAC/TUKWILA SOUTH: HEART OF THE MARKET A NATIONAL PARTNERS INVESTMENT OPPORTUNITY
EXECUTIVE SUMMARY THE OPPORTUNITY, 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. 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 PROPERTY SNAPSHOTS 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 Parkway Super Center Close to major transportation, employers, recreation and shopping 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 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, mixeduse, 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. SEATAC MULTIFAMILY 28.4 ACRES MULTIFAMILY ZONED UH-900 STRATEGIC SEATAC LOCATION TUKWILA SOUTH MULTIFAMILY 11.5 ACRES MULTIFAMILY EIS COMPLETED PART OF TUKWILA MASTERPLANNED SITE 1 SEATTLE AREA MULTIFAMILY DEVELOPMENT OPPORTUNITY
S 204th St LOCATION AERIAL DOWNTOWN SEATTLE 90 DOWNTOWN BELLEVUE SEA-TAC INTERNATIONAL AIRPORT 5 RENTON SEATAC SEATAC SITE TUKWILA ANGLE LAKE TUKWILA SOUTH SITES 5 Southcenter Parkway Orillia Rd S S 200th St Project Address Size (Acres) SeaTac South of S. 178th St. & East of I-5, SeaTac, WA 28.4 Tukwila South South of S. 178th St. & East of I-5, Tukwila, WA 11.5 Total Acreage 39.9 EXECUTIVE SUMMARY 2
SITE PLAN CONCEPTUAL SITE PLAN ALTERNATIVES 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 PARKING RATIO: 1.3 Stalls per Unit PARKING PROVIDED: 1,230 Surface Parking Stalls 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 RATIO: 1.4 Stalls per Unit PARKING PROVIDED: 1,230 Surface Parking Stalls KEY APARTMENTS TOWNHOMES 3 SEATTLE AREA MULTIFAMILY DEVELOPMENT OPPORTUNITY
AERIALS SITE SITE LOOKING WEST TOWARD SITE VIEW NORTH FROM SITE VIEW SOUTH FROM SITE VIEW NORTHEAST FROM SITE EXECUTIVE SUMMARY 4
PREMIER TRANSPORTATION Everett Lynnwood Bothell Bainbridge Island University of Washington Seattle SODO Capitol Hill Kirkland Bellevue Georgetown Burien Seattle-Tacoma International Airport Tukwila Renton SeaTac Southcenter Des Moines SEATTLE AREA MULTIFAMILY DEVELOPMENT OPPORTUNITY Kent 5 SEATTLE AREA MULTIFAMILY DEVELOPMENT OPPORTUNITY
SEATTLE AREA MULTIFAMILY DEVELOPMENT OPPORTUNITY 39.9 ACRES OF PRIME LAND SEATAC/TUKWILA SOUTH: HEART OF THE MARKET CAPITAL MARKETS EXPERTS/TEAM LEADERS INDUSTRIAL EXPERTS DEBT & STRUCTURED FINANCE DARLA LONGO Vice Chairman Lic. 00639911 +1 909 418 2105 darla.longo@cbre.com MIKE CAPRILE Vice Chairman Lic. 475137372 +1 630 573 7071 mike.caprile@cbre.com TAYLOR ODEGARD Vice President Lic. 112227 +1 206 292 6104 taylor.odegard@cbre.com ANDREW STARK First Vice President Lic. 77304 +1 206 442 2746 andrew.stark@cbre.com VAL ACHTEMEIER Executive Vice President Lic. 01868169 +1 213 613 3109 val.achtemeier@cbre.com MULTIFAMILY EXPERTS JON HALLGRIMSON Executive Vice President Lic. 28423 +1 206 292 6110 jon.hallgrimson@cbre.com ELI HANACEK Executive Vice President Lic. 111438 +1 206 292 6147 eli.hanacek@cbre.com FRANK BOSL Senior Vice President Lic. 19557 +1 206 292 6138 frank.bosl@cbre.com KYLE YAMAMOTO Associate Lic. 113875 +1 206 292 6064 kyle.yamamoto@cbre.com WEBSITE: www.cbre-seattlemultifamilydevelopment.com GLOBAL INDUSTRIAL & LOGISTICS Jack Fraker WWW..COM/NP NORTHEAST Michael D. Hines Brian Fiumara Brad Ruppel Lauren Dawicki SOUTHEAST Chris Riley Frank Fallon Trey Barry Jennifer Klingler SOUTH CENTRAL Randy Baird Jonathan Bryan Ryan Thornton Heather McClain NORTH CENTRAL Mike Caprile Ryan Bain Zach Graham WEST Darla Longo Barbara Perrier Rebecca Perlmutter Finkel Brett Hartzell Michael Kendall Taylor Odegard Eric Cox Gina Christen DEBT & STRUCTURED FINANCE Val Achtemeier Scott Lewis Steve Roth Steve Kundert Offering integrated real estate capital markets solutions from strategy to execution delivered by a seamless national partnership 2017, Inc. The information contained in this document has been obtained from sources believed reliable. While, Inc. does not doubt its accuracy,, 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. and the logo are service marks of, 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.