901 Fifth

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive advisor, has been engaged to solicit offers to purchase the loan with a direct path to fee simple ownership of 901 Fifth (the “Building”, “Asset” or “Property”), a premier office tower centrally located in the heart of Seattle’s CBD. Spanning 539,122 rentable square feet across 41-stories, the Property is an iconic presence along Downtown Seattle’s skyline. At a generationally reset basis, the Property affords new ownership a compelling opportunity to reposition market rents, capitalize on existing move-in ready space, and substantially differentiate its amenity offerings through strategic capital improvements—all in the face of an absent office development pipeline for the foreseeable future.

With a rich history of tech tenancy, combined with decades of institutional ownership, buyers will benefit from significant capital improvements (~$20M since 2016), allowing them to focus on accretive go-forward capital improvements. The Property’s institutional stewardship, paired with the offering’s reset basis, presents a singular opportunity to implement transformative amenity enhancements and strategic spec programming that exceed the new standard of tenant expectations for the workplace. These potential upgrades range from a one-of-a-kind tenant amenity / game center in the ground floor retail vacancy, improvements to the Property’s outdoor plaza experience, and a refresh of the Property’s lobbies - which benefited from a $4.6M renovation in 2017.

A surge in tech demand—driven by rapid AI company growth—is sweeping across the Puget Sound region. Uniquely, Seattle boasts the 2nd highest concentration of AI talent in the U.S., making it the focal point for the country’s largest AI companies, particularly those expanding from the Bay Area. The region is expected to remain a leader in AI demand given its unmatched concentration of talent and major tech employers across both Seattle and Bellevue. Due to significant large-block tech leasing in Downtown Bellevue, the Eastside’s top-tier availability will be completely full in the near future, as such, a scarcity premium is expected to make its way through Seattle CBD’s premium space. 901 Fifth has the ability to capture this demand through its existing move-in ready spaces, and after differentiating capital projects are realized at the Property, 901 Fifth can fully return to its tech legacy while providing a significant rental rate discount to Bellevue.

Downtown Seattle is experiencing a resurgence driven by recent public investments in the Property’s surrounding area as well as health and safety initiatives geared towards revitalizing the CBD. To the West, the city’s $806M master planned waterfront redevelopment project opened in 2025 and has injected new life throughout the downtown core, attracting an influx of tourists, locals, and tenants alike.

To the South, Seattle’s historic Pioneer Square neighborhood is in the midst of an extraordinary renaissance, bolstered by an array of restaurant openings and sporting events - most notably the 2026 World Cup arriving this Summer. To the East, the Property benefits from impeccable accessibility with multiple on- and off-ramps to I-5 within three blocks as well as walking distance to light rail, which is scheduled to connect to the Eastside by the end of March. Lastly, to the North, 901 Fifth is being pulled into the positive momentum resonating from South Lake Union, Denny Triangle, and the new Convention Center. All these factors combine to position 901 Fifth at the convergence of Seattle’s post-Pandemic evolution.