M Street

JLL, as exclusive advisor, is pleased to present the opportunity to acquire M Street (the “Property” or “Subject), a distinguished mixed-use high-rise tower built in 2007 in Seattle’s First Hill submarket.

M Street features a diverse mix of residential units complemented by 56,698 of commercial space. M Street represents a significant value-add opportunity, as none of the 220 residential units have received substantial renovations to match the quality standards of new construction high-rise product in First Hill or downtown Seattle. With new construction high-rise properties nearby achieving rents between $3.75‒$4.25 PSF vs. $2.92 PSF at M Street, investors are positioned to capture considerable rent premiums through strategic unit upgrades. M Street also represents an outstanding opportunity to acquire a high-rise well below today’s replacement costs in a market with a forecasted near-term supply-constraint and highly ranked employment growth.

The Property benefits from unparalleled access to major employment centers throughout the Seattle area. It sits within walking distance of Seattle’s First Hill medical hub, home to four nationally-renowned hospitals, and downtown Seattle’s diverse employment base. Prominent technology employers in South Lake Union are easily accessible in under 5 minutes via Interstate 5, while the Eastside’s expanding job market can be reached conveniently through nearby transportation corridors. This connectivity to the Eastside will be further enhanced as early as Fall 2025 when the 14-mile East Link Rail expansion debuts as the first ever light rail built on a floating bridge, connecting Seattle to the Eastside.

Residents at M Street enjoy unmatched proximity to Seattle’s vibrant retail and entertainment destinations. The Property is surrounded by an abundance of grocery stores, boutique restaurants, outdoor recreational spaces, and cultural venues that enhance the urban living experience. The renowned Pike-Pine corridor, situated less than 0.5 miles from M Street, stands as one of Seattle’s premier nightlife destinations, offering residents convenient access to numerous bars, restaurants, live music venues, and entertainment options. This rich tapestry of nearby amenities creates an attractive lifestyle proposition that complements M Street’s prime location.