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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.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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