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Hotel Beltown Comps Report PDF
Hotel Beltown Comps Report PDF
BUILDING
Type: Hotel
Year Built: Proposed
Rooms: 200
GBA: 148,000 SF
Floors: 38
Typical Floor: 3,895 SF
LAND
Parcel 197720-0926
LEASING
Available Spaces: No Spaces Currently Available
TRANSPORTATION
Transit/Subway: 5 minute walk to Westlake Sta AcRd & Tunnel Station-BAY C (LINK to Sea-Tac)
Commuter Rail: 5 minute drive to King Street (Seattle) Station Commuter Rail (Sounder South Line)
Airport: 18 minute drive to Seattle-Tacoma International Airport
Walk Score ®: Walker's Paradise (98)
Transit Score ®: Rider's Paradise (100)
PROPERTY CONTACTS
Recorded Owner: 1927 & 1935 2nd Ave Llc Developer: Columbia West Properties, Inc.
Architect: Ankrom Moisan
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583. Page 1
Property Summary Report
BUILDING
Type: Hotel
Year Built: 2018
Rooms: 230
GBA: 186,000 SF
Floors: 16
Typical Floor: 11,625 SF
Construction: Reinforced Concrete
LAND
Land Area: 0.31 AC
Parcel 768389-0000
AMENITIES
LEED Certified - Gold
LEASING
Available Spaces: No Spaces Currently Available
TRANSPORTATION
Walk Score ®: Walker's Paradise (99)
Transit Score ®: Rider's Paradise (100)
PROPERTY CONTACTS
Developer: Widewaters Group, Inc.
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583. Page 2
Property Summary Report
BUILDING
Type: Hotel
Year Built: 2015
Rooms: 97
GBA: 61,721 SF
Avg Room Size: 878 SF
Floors: 9
Typical Floor: 6,858 SF
Construction: Masonry
LAND
Land Area: 0.15 AC
Zoning: DMC 240290
Parcel 197720-1140
LEASING
Available Spaces: No Spaces Currently Available
SALE
Last Sale: Sold on Aug 23, 2018 for $5,608,350 ($57,818/Room) at 6.50% Cap
TRANSPORTATION
Parking: 40 free Surface Spaces are available; 0.4 per Room
Transit/Subway: 5 minute walk to Westlake Ave & Olive Way Transit Stop (South Lake Union Streetcar)
Commuter Rail: 6 minute drive to King Street (Seattle) Station Commuter Rail (Sounder South Line)
Airport: 19 minute drive to Seattle-Tacoma International Airport
Walk Score ®: Walker's Paradise (98)
Transit Score ®: Rider's Paradise (100)
PROPERTY CONTACTS
True Owner: GEM Real Estate Partners Recorded Owner: Palladian Hotel LLC
Prior True Owner: Stockbridge Capital Group LLC Property Manager: Palladian Hotel
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583. Page 3
Property Summary Report
BUILDING
Type: Hotel
Year Built: 2010
Rooms: 160
GBA: 274,442 SF
Floors: 8
Typical Floor: 21,118 SF
Construction: Reinforced Concrete
LAND
Land Area: 0.30 AC
Zoning: NC385
Parcel 199120-0695
AMENITIES
Business Center, Fitness Center, Pool
LEASING
Available Spaces: No Spaces Currently Available
TRANSPORTATION
Parking: 160 free Covered Spaces are available; 1.0 per Room
Transit/Subway: 6 minute walk to Westlake & Denny Transit Stop (South Lake Union Streetcar)
Commuter Rail: 9 minute drive to King Street (Seattle) Station Commuter Rail (Sounder South Line)
Airport: 20 minute drive to Seattle-Tacoma International Airport
Walk Score ®: Walker's Paradise (97)
Transit Score ®: Rider's Paradise (100)
KEY TENANTS
Hyatt Place 250 SF
PROPERTY CONTACTS
True Owner: Kauri Investments, Ltd. Developer: Ariel Development, Inc.
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583. Page 4
Property Summary Report
BUILDING
Type: Hotel Condo
Year Built: 2009
Rooms: 346
GBA: 335,634 SF
Avg Room Size: 406 SF
Floors: 39
Typical Floor: 8,606 SF
Construction: Steel
LAND
Land Area: 0.63 AC
Zoning: DOC2 50030
Parcel 636400-0000
AMENITIES
Air Conditioning, Bar/Lounge/Nightclub, Business Center, Concierge, Conferencing Facility, Fitness Center, Laundry Facilities, Pool, Safe, Sauna,
Spa
LEASING
Available Spaces: No Spaces Currently Available
TRANSPORTATION
Parking: 300 Covered Spaces are available; 0.9 per Room
Transit/Subway: 3 minute walk to Westlake Ave & Olive Way Transit Stop (South Lake Union Streetcar)
Commuter Rail: 5 minute drive to King Street (Seattle) Station Commuter Rail (Sounder South Line)
Airport: 17 minute drive to Seattle-Tacoma International Airport
Walk Score ®: Walker's Paradise (99)
Transit Score ®: Rider's Paradise (100)
KEY TENANTS
Hyatt At Olive 8 10 SF
PROPERTY CONTACTS
Prior True Owner: Hyatt Hotels Corporation Developer: Skanska USA Building
Architect: Gluckman Tang Architects
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583. Page 5
Property Summary Report
BUILDING
Type: Hotel
Year Built: 2003
Rooms: 361
GBA: 254,273 SF
Avg Room Size: 309 SF
Floors: 8
Typical Floor: 31,784 SF
Construction: Reinforced Concrete
LAND
Land Area: 1.47 AC
Zoning: DH2/85, Seattle
Parcel 766620-2345
AMENITIES
24 Hour Availability, Air Conditioning, Car Charging Station, Concierge, Conferencing Facility, Convenience Store, Fitness Center, Pool,
Restaurant, Room Service, Safe, Security System, Waterfront
LEASING
Available Spaces: No Spaces Currently Available
SALE
Last Sale: Portfolio of 50 Hospitality Properties Sold on Apr 19, 2007 for $2,400,000,000 ($165,987/Room)
TRANSPORTATION
Parking: 134 Covered Spaces are available; 0.4 per Room
Transit/Subway: 11 minute walk to Westlake Sta AcRd & Tunnel Station-BAY C (LINK to Sea-Tac)
Commuter Rail: 7 minute drive to King Street (Seattle) Station Commuter Rail (Sounder South Line)
Airport: 20 minute drive to Seattle-Tacoma International Airport
Walk Score ®: Walker's Paradise (93)
Transit Score ®: Rider's Paradise (100)
KEY TENANTS
Marriott Hotels & Resorts 251,772 SF 2100 Bistro and Bar 2,100 SF
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583. Page 6
Property Summary Report
PROPERTY CONTACTS
True Owner: Braemar Hotels & Resorts Recorded Owner: Ashford Seattle Waterfront LP
Prior True Owner: Ashford Hospitality Trust, Inc. Developer: Turner Corp
Architect: Jensen/Fey Architecture and Planning
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583. Page 7
Property Summary Report
BUILDING
Type: Hotel
Year Built: 1980; Renov 2005
Rooms: 230
GBA: 181,890 SF
Floors: 18
Typical Floor: 18,439 SF
Construction: Reinforced Concrete
LAND
Land Area: 0.45 AC
Zoning: DMC 240290
Parcel 065900-0970
AMENITIES
Bus Line
LEASING
Available Spaces: No Spaces Currently Available
TRANSPORTATION
Parking: 162 free Covered Spaces are available; 0.7 per Room
Transit/Subway: 3 minute walk to Westlake Ave & Olive Way Transit Stop (South Lake Union Streetcar)
Commuter Rail: 6 minute drive to King Street (Seattle) Station Commuter Rail (Sounder South Line)
Airport: 19 minute drive to Seattle-Tacoma International Airport
Walk Score ®: Walker's Paradise (99)
Transit Score ®: Rider's Paradise (100)
KEY TENANTS
Warwick Seattle 3,000 SF
PROPERTY CONTACTS
True Owner: Warwick Seattle Recorded Owner: Warwick Seattle
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583. Page 8
Property Summary Report
BUILDING
Type: Hotel
Year Built: 1926; Renov 2005
Rooms: 163
GBA: 60,660 SF
Floors: 10
Typical Floor: 6,046 SF
Construction: Reinforced Concrete
LAND
Land Area: 0.15 AC
Zoning: DOC2 50030
Parcel 065900-0640
AMENITIES
Bus Line, Car Charging Station
LEASING
Available Spaces: No Spaces Currently Available
TRANSPORTATION
Parking: 26 free Covered Spaces are available; 0.2 per Room
Transit/Subway: 1 minute walk to Westlake Hub Transit Stop (South Lake Union Streetcar)
Commuter Rail: 7 minute drive to King Street (Seattle) Station Commuter Rail (Sounder South Line)
Airport: 18 minute drive to Seattle-Tacoma International Airport
Walk Score ®: Walker's Paradise (97)
Transit Score ®: Rider's Paradise (100)
PROPERTY CONTACTS
True Owner: Provenance Hotels Recorded Owner: Hotel Max
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583. Page 9
Property Summary Report
BUILDING
Type: Hotel
Year Built: 2018
Rooms: 1,264
GBA: 1,400,666 SF
Floors: 45
Typical Floor: 31,125 SF
Construction: Reinforced Concrete
LAND
Land Area: 1.47 AC
Zoning: DOC2
PARCEL
066000-0708, 066000-0740
AMENITIES
Air Conditioning
LEASING
Available Spaces: 1,465 - 4,500 SF Available in 3 Spaces
AVAILABLE SPACES
Floor Suite Use Type SF Avail Flr Contig Bldg Contig Rent Occupancy Term
P 1st Retail A Retail New 1,465 1,465 1,465 Withheld Vacant Negotiable
P 1st Retail B Retail New 3,127 3,127 3,127 Withheld Vacant Negotiable
P 1st Retail C Retail New 4,500 4,500 4,500 Withheld Vacant Negotiable
TRANSPORTATION
Transit/Subway: 3 minute walk to Westlake Ave & Virginia St Transit Stop (South Lake Union Streetcar)
Commuter Rail: 6 minute drive to King Street (Seattle) Station Commuter Rail (Sounder South Line)
Airport: 18 minute drive to Seattle-Tacoma International Airport
Walk Score ®: Walker's Paradise (99)
Transit Score ®: Rider's Paradise (100)
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583. Page 10
Property Summary Report
PROPERTY CONTACTS
True Owner: RC. HeDreen Co. Recorded Owner: Lol B Llc
Prior True Owner: R C Hedreen Company Property Manager: Sellen Construction Company
Developer: Sellen Construction Company Architect: LMN Architects
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583. Page 11
Property Summary Report
BUILDING
Type: Hotel
Year Built: 2006
Rooms: 153
GBA: 168,866 SF
Floors: 19
Typical Floor: 8,888 SF
LAND
Land Area: 1.98 AC
Zoning: DMC 240290
Parcel 872975-0000
LEASING
Available Spaces: No Spaces Currently Available
SALE
Last Sale: Sold on Feb 22, 2017 for $79,000,000 ($516,340/Room)
TRANSPORTATION
Transit/Subway: 1 minute walk to Westlake & Denny Transit Stop (South Lake Union Streetcar)
Commuter Rail: 5 minute drive to King Street (Seattle) Station Commuter Rail (Sounder South Line)
Airport: 17 minute drive to Seattle-Tacoma International Airport
Walk Score ®: Walker's Paradise (99)
Transit Score ®: Rider's Paradise (100)
KEY TENANTS
Pan Pacific Seattle 110,130 SF
PROPERTY CONTACTS
True Owner: Hersha Hospitality Trust Recorded Owner: HHLP Seattle Associates LLC
Prior True Owner: Vulcan Real Estate
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583. Page 12
Property Summary Report
988 Virginia St
Seattle, WA 98101 - Seattle CBD Submarket
BUILDING
Year Built: Proposed
GBA: 62,200 SF
Floors: 22
Typical Floor: 2,827 SF
LEASING
Available Spaces: No Spaces Currently Available
TRANSPORTATION
Walk Score ®: Walker's Paradise (99)
Transit Score ®: Rider's Paradise (100)
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583. Page 13
Aerial / Map Report
The Hotel Clare
1931 2 Ave - Seattle, WA 98101
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583.
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Aerial / Map Report
The Hotel Clare
1931 2 Ave - Seattle, WA 98101
1/29/2019
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Page 15
Aerial / Map Report
Charter Hotel
1610 2nd Ave - Seattle, WA 98101
1/29/2019
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Aerial / Map Report
Charter Hotel
1610 2nd Ave - Seattle, WA 98101
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Aerial / Map Report
Palladian Hotel
2000 2nd Ave - Seattle, WA 98121
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583.
Page 18
Aerial / Map Report
Palladian Hotel
2000 2nd Ave - Seattle, WA 98121
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583.
Page 19
Aerial / Map Report
Hyatt Place
110 6th Ave N - Seattle, WA 98109
1/29/2019
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Page 20
Aerial / Map Report
Hyatt Place
110 6th Ave N - Seattle, WA 98109
1/29/2019
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Aerial / Map Report
Olive8
1635 8th Ave - Seattle, WA 98101
1/29/2019
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Aerial / Map Report
Olive8
1635 8th Ave - Seattle, WA 98101
1/29/2019
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Aerial / Map Report
Marriott-Seattle Waterfront
2100 Alaskan Way - Seattle, WA 98121
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583.
Page 24
Aerial / Map Report
Marriott-Seattle Waterfront
2100 Alaskan Way - Seattle, WA 98121
1/29/2019
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Page 25
Aerial / Map Report
Warwick Hotel Seattle
401 Lenora St - Seattle, WA 98121
1/29/2019
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Aerial / Map Report
Warwick Hotel Seattle
401 Lenora St - Seattle, WA 98121
1/29/2019
Copyrighted report licensed to Department of Real Estate - UW - 1042583.
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Aerial / Map Report
Hotel Max
620 Stewart St - Seattle, WA 98101
1/29/2019
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Page 28
Aerial / Map Report
Hotel Max
620 Stewart St - Seattle, WA 98101
1/29/2019
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Aerial / Map Report
Eighth & Howell
807-808 Stewart St - Seattle, WA 98101
1/29/2019
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Aerial / Map Report
Eighth & Howell
807-808 Stewart St - Seattle, WA 98101
1/29/2019
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Aerial / Map Report
Pan Pacific Hotel
2125 Terry Ave - Seattle, WA 98121
1/29/2019
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Aerial / Map Report
Pan Pacific Hotel
2125 Terry Ave - Seattle, WA 98121
1/29/2019
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Aerial / Map Report
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Aerial / Map Report
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Demographic Summary Report
The Hotel Clare
1931 2 Ave, Seattle, WA 98101
Building Type: Hospitality Total Available: 0 SF
Class: - % Leased: 0%
RBA: 148,000 SF Rent/SF/Yr: -
Typical Floor: 3,894 SF
Households
2023 Projection 44,161 133,719 239,560
2018 Estimate 39,874 122,727 221,186
2010 Census 27,675 97,921 184,720
Growth 2018 - 2023 10.75% 8.96% 8.31%
Growth 2010 - 2018 44.08% 25.33% 19.74%
Owner Occupied 7,434 18.64% 40,158 32.72% 87,817 39.70%
Renter Occupied 32,440 81.36% 82,570 67.28% 133,369 60.30%
1/29/2019
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Demographic Summary Report
Charter Hotel
1610 2nd Ave, Seattle, WA 98101
Building Type: Hospitality Total Available: 0 SF
Class: - % Leased: 0%
RBA: 186,000 SF Rent/SF/Yr: -
Typical Floor: 11,625 SF
Households
2023 Projection 46,324 132,898 239,275
2018 Estimate 41,836 121,970 220,925
2010 Census 29,092 97,290 184,516
Growth 2018 - 2023 10.73% 8.96% 8.31%
Growth 2010 - 2018 43.81% 25.37% 19.73%
Owner Occupied 7,884 18.85% 39,899 32.71% 87,885 39.78%
Renter Occupied 33,952 81.15% 82,071 67.29% 133,040 60.22%
1/29/2019
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Demographic Summary Report
Palladian Hotel
2000 2nd Ave, Seattle, WA 98121
Building Type: Hospitality Total Available: 0 SF
Class: - % Leased: 0%
RBA: 61,721 SF Rent/SF/Yr: -
Typical Floor: 6,857 SF
Households
2023 Projection 45,103 134,101 240,068
2018 Estimate 40,727 123,088 221,671
2010 Census 28,280 98,273 185,223
Growth 2018 - 2023 10.74% 8.95% 8.30%
Growth 2010 - 2018 44.01% 25.25% 19.68%
Owner Occupied 7,660 18.81% 40,287 32.73% 88,258 39.81%
Renter Occupied 33,067 81.19% 82,801 67.27% 133,413 60.19%
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Demographic Summary Report
Hyatt Place
110 6th Ave N, Seattle, WA 98109
Building Type: Hospitality Total Available: 0 SF
Class: - % Leased: 0%
RBA: 274,442 SF Rent/SF/Yr: -
Typical Floor: 21,118 SF
Households
2023 Projection 49,309 141,588 244,568
2018 Estimate 44,646 130,058 226,011
2010 Census 31,778 104,454 190,014
Growth 2018 - 2023 10.44% 8.87% 8.21%
Growth 2010 - 2018 40.49% 24.51% 18.94%
Owner Occupied 9,651 21.62% 42,020 32.31% 92,305 40.84%
Renter Occupied 34,995 78.38% 88,038 67.69% 133,706 59.16%
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Demographic Summary Report
Olive8
1635 8th Ave, Seattle, WA 98101
Building Type: Hospitality Total Available: 0 SF
Class: - % Leased: 0%
RBA: 335,634 SF Rent/SF/Yr: -
Typical Floor: 8,606 SF
Households
2023 Projection 56,808 132,939 243,399
2018 Estimate 51,396 122,017 224,792
2010 Census 36,343 97,391 188,120
Growth 2018 - 2023 10.53% 8.95% 8.28%
Growth 2010 - 2018 41.42% 25.29% 19.49%
Owner Occupied 9,706 18.88% 39,780 32.60% 90,816 40.40%
Renter Occupied 41,690 81.12% 82,237 67.40% 133,976 59.60%
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Demographic Summary Report
Marriott-Seattle Waterfront
2100 Alaskan Way, Seattle, WA 98121
Building Type: Hospitality Total Available: 0 SF
Class: - % Leased: 0%
RBA: 254,273 SF Rent/SF/Yr: -
Typical Floor: 31,784 SF
Households
2023 Projection 34,850 133,570 237,650
2018 Estimate 31,404 122,583 219,393
2010 Census 21,391 97,761 183,041
Growth 2018 - 2023 10.97% 8.96% 8.32%
Growth 2010 - 2018 46.81% 25.39% 19.86%
Owner Occupied 6,434 20.49% 39,995 32.63% 86,648 39.49%
Renter Occupied 24,970 79.51% 82,589 67.37% 132,745 60.51%
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Demographic Summary Report
Warwick Hotel Seattle
401 Lenora St, Seattle, WA 98121
Building Type: Hospitality Total Available: 0 SF
Class: - % Leased: 0%
RBA: 181,890 SF Rent/SF/Yr: -
Typical Floor: 18,439 SF
Households
2023 Projection 49,612 135,085 241,400
2018 Estimate 44,826 124,006 222,950
2010 Census 31,305 99,100 186,602
Growth 2018 - 2023 10.68% 8.93% 8.28%
Growth 2010 - 2018 43.19% 25.13% 19.48%
Owner Occupied 8,721 19.46% 40,636 32.77% 89,530 40.16%
Renter Occupied 36,105 80.54% 83,370 67.23% 133,420 59.84%
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Demographic Summary Report
Hotel Max
620 Stewart St, Seattle, WA 98101
Building Type: Hospitality Total Available: 0 SF
Class: - % Leased: 0%
RBA: 60,660 SF Rent/SF/Yr: -
Typical Floor: 6,046 SF
Households
2023 Projection 54,385 134,030 242,554
2018 Estimate 49,162 123,032 224,027
2010 Census 34,488 98,282 187,572
Growth 2018 - 2023 10.62% 8.94% 8.27%
Growth 2010 - 2018 42.55% 25.18% 19.44%
Owner Occupied 9,536 19.40% 40,214 32.69% 90,446 40.37%
Renter Occupied 39,626 80.60% 82,817 67.31% 133,581 59.63%
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Demographic Summary Report
Eighth & Howell
807-808 Stewart St, Seattle, WA 98101
Building Type: Hospitality Total Available: 9,092 SF
Class: - % Leased: 0%
RBA: 1,400,666 SF Rent/SF/Yr: Negotiable
Typical Floor: 31,125 SF
Households
2023 Projection 56,775 134,879 243,465
2018 Estimate 51,350 123,812 224,877
2010 Census 36,201 98,911 188,345
Growth 2018 - 2023 10.56% 8.94% 8.27%
Growth 2010 - 2018 41.85% 25.18% 19.40%
Owner Occupied 10,080 19.63% 40,246 32.51% 91,267 40.59%
Renter Occupied 41,270 80.37% 83,566 67.49% 133,610 59.41%
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Demographic Summary Report
Pan Pacific Hotel
2125 Terry Ave, Seattle, WA 98121
Building Type: Hospitality Total Available: 0 SF
Class: - % Leased: 0%
RBA: 168,866 SF Rent/SF/Yr: -
Typical Floor: 8,887 SF
Households
2023 Projection 55,289 141,815 245,067
2018 Estimate 49,984 130,238 226,447
2010 Census 35,097 104,416 190,224
Growth 2018 - 2023 10.61% 8.89% 8.22%
Growth 2010 - 2018 42.42% 24.73% 19.04%
Owner Occupied 10,281 20.57% 41,754 32.06% 92,732 40.95%
Renter Occupied 39,703 79.43% 88,483 67.94% 133,715 59.05%
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Demographic Summary Report
Households
2023 Projection 63,337 146,997 259,001
2018 Estimate 56,769 134,545 238,620
2010 Census 35,112 101,543 190,117
Growth 2018 - 2023 11.57% 9.25% 8.54%
Growth 2010 - 2018 61.68% 32.50% 25.51%
Owner Occupied 11,032 19.43% 41,152 30.59% 92,829 38.90%
Renter Occupied 45,737 80.57% 93,393 69.41% 145,791 61.10%
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Demographic Trend Report 1 Mile Radius
The Hotel Clare
1931 2 Ave, Seattle, WA 98101
Building Type: Hospitality Total Available: 0 SF
Class: - % Leased: 0%
RBA: 148,000 SF Rent/SF/Yr: -
Typical Floor: 3,894 SF
Grand Totals:
Existing Inventory Delivered Inventory Leasing Activity Net Absorption Gross Absorption Average Rate
Quarter # of Tot. Occupied SF
# of Bldgs RBA Bldgs RBA Direct Sublet Total Direct Sublet Total Direct Sublet Total Direct Sublet Total
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