Acquisitions

Georgetown Center in Seattle Acquired

July 27, 2015
Retail
Purchased: 2015
Price: $28,575,000

Nicola Crosby, a subsidiary of Nicola Wealth Management, is pleased to announce the acquisition of Georgetown Center, a two (2) building Urban Business Center situated in the emerging Georgetown submarket in South Seattle. Georgetown Center is comprised of 130,371 sf and is leased to a variety of tenants including Chasing Fireflies, Virginia Mason, Woodcraft, Neil Kelly, Starbucks and Wells Fargo. Located just minutes south of downtown Seattle and SODO, the property offers easy access to the I-5 and is only 10 minutes from SeaTac Airport. This acquisition provides secure, in-place cash flow with a significant rental growth opportunity as the Georgetown submarket continues to improve and attract more businesses looking for creative retail, showroom and office space.

Special Thanks To:
Broker – Andrew Miller, Evan Lugar, Patricia Loveall (Kidder Mathews Seattle)
Financing – Brian Bonipart, Michael Taylor and Skip Slavin (Newmark Realty Capital Seattle)

For more information, please contact any of the following:

Mark Hannah
Mark Hannah Managing Director, Real Estate 778-383-6937
Alex Messina
Alex Messina Director of Acquisitions,
Real Estate
778-383-4020
Shaun Blythen Acquisitions Manager,
Real Estate
604-558-5500

About Nicola Wealth Real Estate

Nicola Wealth Real Estate is the in-house real estate division of Nicola Wealth.  Our team acquires and manages properties for Nicola Wealth’s real estate portfolios.  We are an experienced team with a disciplined approach, dedicated to building high quality real estate portfolios that are diversified both geographically and by asset type.

About SPIRE Real Estate Portfolios

SPIRE Real Estate LP is an investment portfolio comprised of retail, industrial, office, multi-family, seniors and self-storage properties totaling 3.7 million square feet located in major Canadian markets. SPIRE US LP is an investment portfolio comprised of office, retail and industrial properties located in Seattle, San Francisco, Denver, Phoenix, Houston and Chicago. The portfolio also includes interests in over 14,000 multi-family apartment units located in the South and Southeast US. SPIRE Value Add LP is a new addition to the SPIRE and SPIRE US investment portfolios and focuses on generating returns through re-sale of investments in multiple projects using “value-add strategies.”