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Seattle & Northwest  + Washington  + Office  | 

Lincoln Lands Puget Sound Creative Space for $59M

Lincoln Property Company acquired 501 Eastlake, a 103,494-square-foot five-story office building located in Seattle from LBA Realty for $58.75 million. Located in the vibrant South Lake Union submarket, the property is 79% leased to a high quality and diverse tenant roster including the regional headquarters for Capital One.

Built in 2002, the unique creative office asset features an on-site athletic facility, walkable amenities and convenient access to I-5, SR 520 and the South Lake Union streetcar.

NKF Capital Markets’ Kevin Shannon, Nick Kucha, Michael Moll, Tim O’Keefe and James Childress represented the seller.

“This is a highly-coveted asset in Seattle’s most desirable market, South Lake Union,” said Shannon. “The size of this deal in the $50 million to $100 range for a multi-tenant asset was a very attractive deal for capital, and created significant bidding depth.”

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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