1001 John

JLL has been exclusively retained for the sale of 1001 John (the “Site” or “Property”), a rare development site with full entitlements and permits in Seattle’s South Lake Union neighborhood. The site is currently entitled to build a 47-story Type-I high-rise with 415 units. The total site size is 18,450 SF zoned for SM-SLU 240/125-440 with a 5-story warehouse currently occupying the site.

South Lake Union is Seattle’s premier technology and biotechnology hub, with household-name tech companies occupying millions of square feet of office space within the neighborhood. 1001 John is within a one-mile radius of 62.7 million square feet of office space, 13.4 million of which is occupied by Amazon. The Property’s South Lake Union location supports a 99 Walk Score and Transit Score and excellent access to employment and upscale retail and entertainment. Both South Lake Union Streetcar and Link Light Rail are within 0.5 miles of 1001 John; Whole Foods is within 500 feet, a new Trader Joe’s is under construction just down the street, and dozens of trendy bars and restaurants are within walking distance.

As such, the Property attracts a demographic profile that is affluent, educated, and has a high propensity to rent. The majority of apartment tenants in the submarket are employed by the region's tech giants that are within walking distance, including Amazon, Google, Meta, Expedia, and others. New ownership will also have the option to partake in the MFTE program, which allows an abatement on all residential improvements for 12 years in exchange for reserving 20% of units at affordable rents for the duration of the abatement