SEATTLE, June 21, 2022 –JLL Capital Markets announced today that it has arranged $36.465 million in financing for The Original Rainier Brewery, a portfolio of four industrial/office/retail buildings totaling 193,908 square feet in Seattle, Washington.
JLL worked on behalf of the borrower, ScanlanKemperBard, to secure the bridge financing through the Investment Banks Balance Sheet Lending Platform. The variable rate loan has an initial term of three years with two one-year extensions.
Originally built as a brewery for Rainier Beer in the early 1900s, the property has been converted into a creative industrial manufacturing space, creative office and food processing/showcase complex comprising four separate buildings: the bottling, malting, warehouse and General Office. The buildings feature abundant natural light, exposed brickwork, original floors, historic details, and unique amenities that set each suite apart. The property has a diverse rent book of 39 tenants spanning various industries including architecture, outdoor apparel manufacturers, custom woodworking, wine storage, wholesale showrooms and more Again.
The Original Rainier Brewery occupies a 6.5 acre site at 5624-6004 Airport Way S. in one of Seattle’s oldest neighborhoods, Georgetown Submarket. This area has an abundant restaurant and retail base and is close to several notable multinational national corporations. Additionally, The Original Rainier Brewery has excellent public transit access less than a mile from Interstate 5 and just 2 miles from Highway 99. Additionally, the property is within approximately 6.5 km south of the central business district of Seattle and approximately 16 km from Seattle-Tacoma. International airport.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Tom Wilson and Director Zachary Kersten.
JLL Capital Markets is a global, full-service provider of capital solutions for property investors and occupiers. The firm’s in-depth knowledge of the local market and global investors provides best-in-class solutions to its clients, whether it is sales and investment advice, debt advice, equity advice or recapitalization. The firm has more than 3,000 capital markets specialists worldwide with offices in nearly 50 countries.
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