Ballard · 2019-11-19 · accomplished on foot. The Bike Score is also a 90, with excellent bike...

SAM WAYNE Vice President+1 206 515 4498 [email protected]

TIM McKAY Senior Vice President+1 206 223 5586 [email protected]

DAN CHHAN Senior Vice President+1 206 223 1265 [email protected]

35 UNIT APARTMENT SITE6400 15TH AVE NW, SEATTLE, WA

B a l l a r dC R O S S I N G

Confidentiality & Disclaimer

Exclusive Listing Agents




www.BallardCrossing.Com

Colliers International has been retained as the exclusive listing broker for the Ballard Crossing Development Site in the city of Seattle, Washington. The Seller will consider offers on an all cash basis. Legal documents and reports summarized in this Offering Memorandum are not intended to be comprehensive statements of the terms or contents of such documents and reports. Although the Seller and Colliers International believe the information to be accurate, interested parties should conduct an independent investigation and reach conclusions without reliance on materials contained herein.

The Seller reserves the right, for any or no reason, to withdraw the property from the market. The Seller has no obligation expressed or implied, to accept any offer. Further, the Seller has no obligation to sell the property unless and until the Seller executes and delivers a signed contract of sale on terms acceptable to the Seller, in its sole discretion.

The material contained in this Offering Memorandum is confidential, under the terms and conditions of a Confidentiality Agreement, which has been executed by the recipient as Reviewer, and furnished solely for the purpose of considering the purchase of the property described herein and is not to be copied and/or used for any other purpose, or made available to any other person without the express written consent of Colliers International or the Seller.

This Memorandum is delivered under the terms and conditions of a Confidentiality Agreement, which has been executed by the recipient as Reviewer. All terms and conditions of the Confidentiality Agreement apply to information contained herein, as appropriate. Offers should be delivered to the office of the Exclusive Listing Agents, Colliers International attention Tim McKay, Dan Chhan, and Sam Wayne. To facilitate analysis of offers, offerors are encouraged to provide information relative to funding sources, experience in owning and operating similar properties, familiarity with the market and any other information which is likely to favorably reflect on the offerors ability to close this proposed transaction in a timely manner.

Inquiries and tours are to be directed to the Exclusive Listing Agents. Please do not contact the Property.

This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, express or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this documents and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2019. All rights reserved.

COLLIERS INTERNATIONAL3 www.BallardCrossing.Com

BALLARD CROSSING

The Offering

Colliers International’s McKay | Chhan | Wayne present Ballard Crossing, a 10,000 square foot development site with a massing study to build 35 market rate units over retail at the crossroads of 15th Avenue Northwest and Northwest 65th Street. The opportunity consists of a NC3P-55 (M) zoned parcel on a corner lot with excellent daylight exposure from all directions. The topography slopes gradually downhill to the south, providing an opportunity for excellent views from the upper floors. Located inside the Ballard Urban Village, parking is not required.

Architectural studies provide early design work for either 35 market rate apartments or 93 SEDU’s.

6400 15th Ave NW Development SummaryAddress 6400 15th Ave NW | Seattle, WA 98107Site Area 10,000 SF (0.23 acres)Parcel 276760-0710Urban Village Ballard HubZoning NC3P-55 (M)Market Rate Units 35SEDU Units 93Parking 29NRSF 25,149Commercial NRSF 2,095Avg Market Rate Unit SF 719Avg SEDU Unit SF 350

6400 15th Ave NW Pricing SummaryPurchase Price $2,250,000Price Per Market Rate Unit $64,286Price Per SEDU Unit $24,194Price Per Lot SF $225

COLLIERS INTERNATIONAL 4 www.BallardCrossing.Com

BALLARD CROSSING

Market occupancy for stabilized units continues to exceed 95% with steady rent growth over the past seven years. Average rent per square foot in new, market rate communities has surpassed $3.25/

SF and SEDU rents are in excess of $4.50/SF on average. Exit pricing for comparable sales of new

product in Ballard has averaged $350,000/unit and $750/SF.

Regardless of product type, tenants will be drawn to this location because of walkability and access to public transportation. The Walk Score for this project

is 90, a Walker’s Paradise, where most errands can be accomplished on foot. The Bike Score is also a 90, with

excellent bike lanes and trails in the area. Three bus lines, including the Rapid Ride D Line, pick up riders from within one block and provide swift transportation to Downtown Seattle and South Lake Union. Tenants continue to lease units in Ballard because of the amazing amenities and

nightlife, access to parks and beaches, and access to major job centers.



BALLARD CROSSING

COLLIERS INTERNATIONAL5

» Large, rectangular development site at signalized intersection » Excellent location, 90 Walk Score, a Walker’s Paradise » Three bus lines within two blocks, including the Rapid Ride D Line » Neighborhood rents exceed $3.25/SF for apartments and $4.50/SF for SEDUs » Market occupancy exceeds 95% » Ballard Urban Village does not require parking » Topography provides for excellent views to South and West

www.BallardCrossing.Com


BALLARD CROSSING

Ballard High School

Ballard Pool

15TH

AVE

NW

NW 85TH ST

NW 65TH ST

HOLMAN RD NW

Salmon Bay K-8 School

Loyal Heights Playfield

Ballard Boys & Girls Club

Salmon Bay Park

Whittier Elementary School

TONY'S TERIYAKI

MAE PLOY THAI

JUMPIN' JIMMY'S JAVA

DOG'S DAY OUT

TRANSITIONS HAIR STUDIO

Kirke Park

ROSELLINI'SCAKES

North Beach Elementary School

North Beach Park

Puget Sound

Whitman Middle School

B a l l a r dC R O S S I N G NORTH


BALLARD CROSSING

Ballard High School15TH AVE NW

NW 65TH ST

NW MARKET ST

Salmon Bay K-8 School

Ballard Boys & Girls Club

Ballard Pool

TONY'S TERIYAKI

MAE PLOY THAI

JUMPIN' JIMMY'S JAVA

DOG'S DAY OUTROSELLINI'SCAKES

Ballard Commons Park

Gilman Playground

LA | F I T N E S S

BALLARD BLOCKS

Salmon Bay


NORTH


BALLARD CROSSING

Retail AmenitiesWithin a 10 Minute Walk

9 GYMS

29+BARS & RESTAURANTS

15 CAFÉS

15 SHOPS

13 ENTERTAINMENT

14GROCERY & MARKETS

13 ERRANDS

Ballard · 2019-11-19 · accomplished on foot. The Bike Score is also a 90, with excellent bike...

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