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Campus Seattle Office Development Secures $109M Financing
JLL Capital Market has arranged $109 million in construction financing for the development of 35 Stone, an office complex that is part of the Campus Seattle project in the Fremont submarket of Seattle. JLL worked on behalf of the borrower, evolution Projects, which is developing the office building.
Estimated to deliver in 2024, 35 Stone will be a five-story building offering 113,000 square feet of office space and 7,500 square feet of retail, restaurants, parks and entertainment. The office space has already been pre-leased to Brooks Running.
The JLL Capital Markets team representing the borrower includes Kaden Eichmeier and Bruce Ganong, while the tenant was represented by Brian Kelly and Eric Lonergan. Canyon Partners Real Estate provided a mezzanine loan to finance the development.
“Fremont is a top destination for Seattle’s millennial population, which has in turn drawn many top companies to the neighborhood. evolution Projects is creating a truly unique asset that will set a benchmark for energy and sustainability standards in the market,” said Eichmeier.
- ◦Development
- ◦Financing
