Georgetown Yards 5 Properties in Seattle, WA

Georgetown Yards presents an exceptional investment opportunity to acquire a recently renovated, 89,839-square-foot mixed-use asset in the heart of Seattle’s growing Georgetown creative district. This institutional-quality property, renovated in 2020, offers secure, in-place cash flow with significant upside driven by its strategic location and the neighborhood’s upward trajectory.
This 5-building property combines modern buildouts with industrial roots including extensive loading capabilities: 14-foot clear heights throughout Buildings D and E and 19’ clear height in Building A. Building A includes one exterior dock-high door and three 10’×12’ drive-in doors. Building D features two 10’×12’ drive-in doors, and there are an additional two 10’×12’ drive-in doors that provide access to the covered parking attached to Building E. This adaptability allows it to serve a diverse mix of office, light industrial, recreation, and food service businesses that cannot be accommodated by traditional single-use commercial properties. The Tenants include Arena Sports, a legacy tenant since 1995, and Lifelong, a federally funded 501(c)(3) non-profit organization with over 40 years of operational experience aimed at removing barriers to health for those in need. Combined, the two tenants account for 59% of the RBA which is further diversified by a commissary kitchen and Seattle Therapy Network.
The property’s compelling financial profile is anchored by its current 80% occupancy and a 7-year weighted average lease term presents a clear opportunity to increase occupancy, supported by the stable in-place cash flow. The asset’s financial attractiveness is enhanced by operating expenses that are about 25% below the mid-teens market standard, providing a distinct competitive advantage for leasing.
The investment thesis is further strengthened by the transformative Bend Live/Work District, a planned $550 million development adjacent to the property. This project is expected to drive an $853 million economic impact and significant value enhancement for the surrounding area, signaling strong institutional confidence in Georgetown’s future.
Additional demand drivers include the property’s prime logistical access, with 5-minute transit to Downtown Seattle and 12-minute access to SeaTac Airport. Proximity to Lumen Event Center and the Stadium District including Lumen Field, which is set to host six FIFA World Cup matches in 2026, the Port of Seattle, and major transit corridors reinforce its long-term value.
As a high-quality mixed-use asset, Georgetown Yards offers investors immediate entry into one of Seattle’s most dynamic growth stories. This rare combination of a modern environment, very sticky tenants, proven leasing velocity, and upside through continued lease up of vacant spaces all create an exceptional investment opportunity.