Colliers International offers eight-parcel opportunity next to the University of Washington
SEATTLE – Colliers International’s Tim McKay, Dan Chhan, and Sam Wayne today announced the commencement of marketing for an eight-parcel assemblage just three blocks from the University of Washington in Seattle’s University District. Dubbed “Campus Station,” this opportunity is the largest fee-simple assemblage made available since the 2017 University District rezone that encouraged greater density and taller buildings. McKay, Chhan and Wayne are representing current ownership in the disposition.
Spanning nearly an acre from 4202 to 4238 12th Avenue NE, Campus Station is zoned SM-U/R 75-240 (M1), which allows a high-rise as tall as 240’ and no parking minimum for residential use. The lot supports a myriad of uses, including multi-housing residential, retail & services, hotel and general office. As many as 549 market-rate apartments or 1,100 student beds can be built in a redevelopment of the property. A captive student and faculty population centered around the University of Washington, compounded by the ongoing expansion of the university and research, technology, healthcare and related industries across Seattle, ensures high demand for any use implemented at Campus Station.
In addition to its location three blocks from the University of Washington, Campus Station is half a block from the future University District station of Sound Transit’s Light Rail. When completed in 2021, this station will provide easy access to Husky Stadium, Capital Hill, Westlake Mall, Seattle’s Central Business District, and SeaTac International Airport. Once the East Link Light Rail comes online in 2023, riders will gain additional access to the Bellevue CBD, Spring District, and Microsoft’s global headquarters to the east. Numerous restaurants, shops, clubs, and cultural institutions surround the property, offering residents, tenants and visitors opportunities for entertainment, recreation and education. The property has a Walk Score of 97, current Transit Score of 82, and future Transit Score of 90++according to walkscore.com.
According to Mr. McKay, “Development opportunities of the magnitude of Campus Station rarely come to market. The upside potential of the property is significant given its proximity to UW’s campus, the opening of the University District Light Rail Station, and the continuing population explosion and growth of the Puget Sound Regional economy. Demand for well located residential and office continues to outpace supply.”
For a closer look at Campus Station, click on this link to watch a video about the opportunity. To contact Mr. McKay, Mr. Chhan or Mr. Wayne, email email@example.com, firstname.lastname@example.org or email@example.com.
About Colliers International Group
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is a top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 12,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide, and through its investment management services platform, has more than $20 billion of assets under management from the world’s most respected institutional real estate investors.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice to accelerate the success of its clients. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers is ranked the number one property manager in the world by Commercial Property Executive for two years in a row.
Colliers is led by an experienced leadership team with significant equity ownership and a proven record of delivering more than 20% annualized returns for shareholders, over more than 20 years.
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