Historic Renovation Creates a Jewel Along Seattle’s Waterfront
The office portion of the beautifully renovated historic 619 Western Building, for which we provided financing is full. Chef Software leased three floors and technology product design firm, Artefact leased the top two floors. This jewel along Seattle`s changing waterfront will have unobstructed views of Elliott Bay. Seismic upgrades, options for natural ventilation, new electrical, mechanical and plumbing systems matched with operable windows and rooftop deck make this a very special environment.
“The Benaroya Cos., they’re sophisticated. They are not afraid of real estate,” said real estate broker Stan Piha. “They see things differently than a typical lender.”
The decision to save a historic landmark building in disrepair along Seattle’s changing waterfront, left the owner a new task. Securing financing for the renovation from a former multi-story warehouse and artist workspace to Class A office. The State of Washington who is building a new tunnel under the property covered a portion of the cost of the building upgrade. Broker Stan Piha of Stanley Real Estate reached out to several traditional lenders, all of whom took a pass. So Piha came to The Benaroya Company believing we could be more creative and accommodating.
