Investment Overview

Marcus & Millichap has been selected to exclusively present the investment offering of 4100 Roosevelt Way NE in Seattle, Washington. The Subject Property is a ±7,500 SF parcel of land recently upzoned by the Seattle City Council to SM-U 75-240 (M1) and positioned uniquely adjacent to the border of the University of Washington’s West Campus amidst the explosive growth of the University District Submarket. The University of Washington prepared a Campus Master Plan in 2019 to serve as a long-term aspirational framework for future development. Much of that has already come to fruition and more is currently in progress. The University fosters collaborative relationships with the outside development community in order to strengthen the vital University District Urban Center. The Subject Property, 4100 Roosevelt Avenue NE, is adjacent to the most ambitious quadrant of this Master Plan: The University’s West Campus features prominently in this plan with a desire for up to 3,000,000 total net new gross square feet of development. In 2021, a Sound Transit light rail station opened just five blocks from the Subject Property, in the heart of the U District at N.E. 43rd Street and Brooklyn Avenue N.E. The light rail has already begun to transform the U District into a neighborhood that is exponentially more connected, making it a highly desirable place to live, work and play. Developers have taken notice, especially since the Seattle City Council upzoned the neighborhood in 2017, raising maximum building heights up to 320 feet in some areas. Between N.E. 41st and N.E. 50th streets, west of the Ave—where building heights were raised the most—nine towers up to 30 stories high are in development or planned. Dozens of other projects are in the works across the neighborhood, ranging from the more than 1,455 student-focused high-rise apartments currently under construction to townhouses and mixed-use buildings. Additional demand exists for hospitality developments to accommodate the University’s student population as well as the simple intrigue of this highly walkable and appealing neighborhood. Directly adjacent to the University of Washington’s West Campus (which is also home to the UW Innovation District) at the converging intersection of Roosevelt Avenue NE and Eastlake Avenue NE (the University Bridge Connector), both of which are considered principal arterials of the university campus. Just one block north of NE Campus Parkway and across from a UW Parking Location. Investors are encouraged to seize on this once-in-a generation opportunity to acquire this rare piece of land that has not been available to the market for nearly two decades.