{"id":2785,"date":"2020-12-04T11:59:27","date_gmt":"2020-12-04T19:59:27","guid":{"rendered":"https:\/\/www.lee-associates.com\/northwest\/?p=2785"},"modified":"2021-04-20T10:25:21","modified_gmt":"2021-04-20T17:25:21","slug":"case-study-the-walsh-building","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/northwest\/2020\/12\/04\/case-study-the-walsh-building\/","title":{"rendered":"Case Study &#8211; The Walsh Building"},"content":{"rendered":"<div id=\"pl-2785\"  class=\"panel-layout\" ><div id=\"pg-2785-0\"  class=\"panel-grid panel-has-style\" ><div class=\"siteorigin-panels-stretch panel-row-style panel-row-style-for-2785-0\" data-stretch-type=\"full\" ><div class=\"so-panels-full-wrapper\" ><div id=\"pgc-2785-0-0\"  class=\"panel-grid-cell\" ><div id=\"panel-2785-0-0-0\" class=\"so-panel widget widget_sow-image panel-first-child panel-last-child\" data-index=\"0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-image so-widget-sow-image-default-113ccd71f3e6-2785\"\n\t\t\t\n\t\t>\n<div class=\"sow-image-container\">\n\t\t<img \n\tsrc=\"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2020\/12\/Walsh-Building_Case-Study-Image.jpg\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2020\/12\/Walsh-Building_Case-Study-Image.jpg 1000w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2020\/12\/Walsh-Building_Case-Study-Image-300x200.jpg 300w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2020\/12\/Walsh-Building_Case-Study-Image-768x512.jpg 768w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2020\/12\/Walsh-Building_Case-Study-Image-272x182.jpg 272w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" title=\"Walsh Building_Case Study Image\" alt=\"The Walsh Building\" \t\tclass=\"so-widget-image\"\/>\n\t<\/div>\n\n<\/div><\/div><\/div><\/div><\/div><\/div><div id=\"pg-2785-1\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-2785-1-0\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><div id=\"pgc-2785-1-1\"  class=\"panel-grid-cell\" ><div id=\"panel-2785-1-1-0\" class=\"so-panel widget widget_sow-editor panel-first-child\" data-index=\"1\" ><div class=\"panel-widget-style panel-widget-style-for-2785-1-1-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h3><strong><span style=\"color: #009ad9\">OVERVIEW<\/span><\/strong><\/h3>\n<ul style=\"list-style-type: square\">\n<li class=\"p1\">Ballard Neighborhood, Seattle, WA<\/li>\n<li class=\"p1\">Commercial \/ Retail<\/li>\n<li class=\"p1\">\u00b1 4,465 SF Total<\/li>\n<li class=\"p1\">Seller Representation<\/li>\n<li class=\"p1\">Sale Price: $1,125,000 ($252 PSF)<\/li>\n<\/ul>\n<\/div>\n<\/div><\/div><\/div><div id=\"panel-2785-1-1-1\" class=\"so-panel widget widget_sow-editor\" data-index=\"2\" ><div class=\"panel-widget-style panel-widget-style-for-2785-1-1-1\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p>&nbsp;<\/p>\n<blockquote>\n<p style=\"text-align: left\"><em>\u201cAmanda &amp; Richard did an excellent job helping us sell our building. They marketed it well, communicated regularly, negotiated effectively and pushed to close on schedule. The transaction was smooth from start to finish despite the onset of COVID during the transaction. We would recommend them to any property owner looking to sell.\u201d <\/em><\/p>\n<p class=\"p1\" style=\"text-align: left\">- Walsh Family, Owners<\/p>\n<p style=\"text-align: left\">\n<\/blockquote>\n<\/div>\n<\/div><\/div><\/div><div id=\"panel-2785-1-1-2\" class=\"so-panel widget widget_sow-editor panel-last-child\" data-index=\"3\" ><div class=\"panel-widget-style panel-widget-style-for-2785-1-1-2\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p><em>For more information regarding this case study, please contact:<\/em><\/p>\n<p><span style=\"color: #009ad9\"><strong>Amanda Hahnemann, CCIM<\/strong><\/span><\/p>\n<p>Senior Vice President<br \/>\n<strong>D\u00a0 <\/strong>(206) 773-2691<br \/>\nahahnemann@lee-associates.com<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #009ad9\"><strong>Richard Peterson<\/strong><\/span><\/p>\n<p>Principal<br \/>\n<strong>D<\/strong>\u00a0 (206) 773-2677<br \/>\nrpeterson@lee-associates.com<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><div id=\"pgc-2785-1-2\"  class=\"panel-grid-cell panel-grid-cell-mobile-last\" ><div id=\"panel-2785-1-2-0\" class=\"so-panel widget widget_sow-editor panel-first-child\" data-index=\"4\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h2><strong>The Challenge<\/strong><\/h2>\n<p class=\"p1\" style=\"text-align: justify\">The Walsh Building is a free-standing, two-tenant property located on 24th Ave NW, a main thoroughfare just north of the popular Ballard neighborhood in Seattle, WA. The Walsh family acquired the property in 2000 for their call-center business and found the two-story, concrete-block constructed office space with a limited window line was well suited for their use. A dentist served as the second and only other tenant in the building, leasing and occupying the building\u2019s retail-front space and benefitting from the greater street visibility. After occupying and operating the building for nearly 20 years, the Walshes made the decision to liquidate the asset during a strong market cycle.<\/p>\n<\/div>\n<\/div><\/div><div id=\"panel-2785-1-2-1\" class=\"so-panel widget widget_sow-editor\" data-index=\"5\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h2><strong>Our Approach<\/strong><\/h2>\n<p>The Lee &amp; Associates team targeted their strategy at owner\/users who had less requirements for a customer-facing space and exhibited stronger interest in the private and secure nature of the well-constructed property. Competitively pricing the building to specifically entice business owners, the team marketed the property on all major platforms and featured the building\u2019s systems, history and local neighborhood, highlighting the property\u2019s recent upzone for redevelopment as a potential long-term play for a future owner.<\/p>\n<p>Within a matter of weeks, two competitive, offers were on the table:<\/p>\n<ol>\n<li>An all-cash buyer seeking a noise-friendly location in which to produce their handcrafted furniture;<\/li>\n<li>A buyer with a financing contingency but willingness to\u00a0 move quickly.<\/li>\n<\/ol>\n<p>Watching as market indicators brought an air of uncertainty to owners and operators, the team knew a drawn-out feasibility period for a sale would not be advantageous to their Client. Negotiating with both potential buyers, the Lee team leveraged the competition and market conditions to obtain a solid offer and shorter path to closing from the all-cash buyer.<\/p>\n<\/div>\n<\/div><\/div><div id=\"panel-2785-1-2-2\" class=\"so-panel widget widget_sow-editor panel-last-child\" data-index=\"6\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h2><strong>The Outcome<\/strong><\/h2>\n<p class=\"p1\" style=\"text-align: justify\">The transaction met unprecedented complications from the COVID-19 global pandemic. As lending froze and government restricted social interactions, the Lee team guided the parties to closing as scheduled, securing the cash offer, and circumventing any extensions or delays. Through their transparent communication, knowledge of transaction timelines, and agility in unpredictable circumstances, the Lee team navigated their Client to a successful asset disposition and in doing so, lent their hand in finding a new home for a local small business owner to make and sell his handcrafted furniture.<\/p>\n<\/div>\n<\/div><\/div><\/div><div id=\"pgc-2785-1-3\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><\/div><div id=\"pg-2785-2\"  class=\"panel-grid panel-has-style\" ><div class=\"siteorigin-panels-stretch panel-row-style panel-row-style-for-2785-2\" id=\"blog\" data-stretch-type=\"full\" ><div class=\"so-panels-full-wrapper\" ><div id=\"pgc-2785-2-0\"  class=\"panel-grid-cell\" ><div id=\"panel-2785-2-0-0\" class=\"so-panel widget widget_sow-headline panel-first-child\" data-index=\"7\" ><div class=\"panel-widget-style panel-widget-style-for-2785-2-0-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-headline 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class=\"sow-carousel-item-title\">\n\t\t\t<a\n\t\t\t\thref=\"https:\/\/www.lee-associates.com\/northwest\/2026\/09\/16\/q2-2026-industrial-market-report\/\"\n\t\t\t\tid=\"sow-carousel-id-9315\"\n\t\t\t\t\t\t\t\ttabindex=\"-1\"\n\t\t\t>\n\n\t\t\t\tQ2 2026 Industrial Market Report\t\t\t<\/a>\n\t\t<\/h3>\n\t<\/div>\n\t\t<div class=\"sow-carousel-item\" tabindex=\"-1\" style=\"float: left;\">\n\t\t<div class=\"sow-carousel-thumbnail\">\n\t\t\t\t\t\t\t<a\n\t\t\t\t\thref=\"https:\/\/www.lee-associates.com\/northwest\/2026\/09\/16\/q2-2026-multifamily-market-report\/\"\n\t\t\t\t\t\t\t\t\t\tstyle=\"background-image: url( https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2026\/09\/Multifamily-Market-Report-Featured-Image-272x182.png )\"\n\t\t\t\t\taria-labelledby=\"sow-carousel-id-9305\"\n\t\t\t\t\ttabindex=\"-1\"\n\t\t\t\t>\n\t\t\t\t\t<span class=\"overlay\"><\/span>\n\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t<h3 class=\"sow-carousel-item-title\">\n\t\t\t<a\n\t\t\t\thref=\"https:\/\/www.lee-associates.com\/northwest\/2026\/09\/16\/q2-2026-multifamily-market-report\/\"\n\t\t\t\tid=\"sow-carousel-id-9305\"\n\t\t\t\t\t\t\t\ttabindex=\"-1\"\n\t\t\t>\n\n\t\t\t\tQ2 2026 Multifamily Market Report\t\t\t<\/a>\n\t\t<\/h3>\n\t<\/div>\n\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t<\/div>\n\t\t<input type=\"hidden\" name=\"instance_hash\" value=\"fb7f4992\"\/>\n\t<\/div>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>OVERVIEW Ballard Neighborhood, Seattle, WA Commercial \/ Retail \u00b1 4,465 SF Total Seller Representation Sale Price: $1,125,000 ($252 PSF) &nbsp; \u201cAmanda &amp; Richard did an excellent job helping us sell our building. They marketed it well, communicated regularly, negotiated effectively and pushed to close on schedule. The transaction was smooth from start to finish despite the onset of COVID during the transaction. We would recommend them to any property owner looking to sell.\u201d &#8211; Walsh&#8230;<\/p>\n","protected":false},"author":39,"featured_media":1965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[843,6,1,1086],"tags":[],"class_list":["post-2785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-study","category-featured","category-media-center","category-retail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.7 (Yoast SEO v28.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Case Study - The Walsh Building - Lee &amp; Associates Pacific Northwest<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lee-associates.com\/northwest\/2020\/12\/04\/case-study-the-walsh-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Case Study - The Walsh Building\" \/>\n<meta property=\"og:description\" content=\"OVERVIEW Ballard Neighborhood, Seattle, WA Commercial \/ Retail \u00b1 4,465 SF Total Seller Representation Sale Price: $1,125,000 ($252 PSF) &nbsp; \u201cAmanda &amp; Richard did an excellent job helping us sell our building. They marketed it well, communicated regularly, negotiated effectively and pushed to close on schedule. The transaction was smooth from start to finish despite the onset of COVID during the transaction. We would recommend them to any property owner looking to sell.\u201d - Walsh...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lee-associates.com\/northwest\/2020\/12\/04\/case-study-the-walsh-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Lee &amp; Associates Pacific Northwest\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/nwleeassociates\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-04T19:59:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-20T17:25:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2020\/03\/Blog-Headers-1024x576_Case-Study.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"574\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Ashley Gaquin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@NWLeeAssociates\" \/>\n<meta name=\"twitter:site\" content=\"@NWLeeAssociates\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ashley Gaquin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2020\\\/12\\\/04\\\/case-study-the-walsh-building\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2020\\\/12\\\/04\\\/case-study-the-walsh-building\\\/\"},\"author\":{\"name\":\"Ashley Gaquin\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/#\\\/schema\\\/person\\\/9c7412d73ef5a4c0f2a3a46cbe7c6396\"},\"headline\":\"Case Study &#8211; 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