{"id":4090,"date":"2022-04-28T14:54:41","date_gmt":"2022-04-28T21:54:41","guid":{"rendered":"https:\/\/www.lee-associates.com\/northwest\/?p=4090"},"modified":"2022-04-28T14:56:28","modified_gmt":"2022-04-28T21:56:28","slug":"tacoma-super-block","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/northwest\/2022\/04\/28\/tacoma-super-block\/","title":{"rendered":"TACOMA\u2019S SUPER BLOCK DEVELOPMENT SITES  HIT THE MARKET FOR SALE"},"content":{"rendered":"<div id=\"pl-4090\"  class=\"panel-layout\" ><div id=\"pg-4090-0\"  class=\"panel-grid panel-has-style\" ><div class=\"panel-row-style panel-row-style-for-4090-0\" ><div id=\"pgc-4090-0-0\"  class=\"panel-grid-cell\" ><div id=\"panel-4090-0-0-0\" class=\"so-panel widget widget_sow-image panel-first-child\" data-index=\"0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-image so-widget-sow-image-default-c67d20f9f743-4090\"\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\/2022\/04\/SuperBlock-8.5x11-scaled.jpg\" width=\"2560\" height=\"1947\" srcset=\"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2022\/04\/SuperBlock-8.5x11-scaled.jpg 2560w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2022\/04\/SuperBlock-8.5x11-300x228.jpg 300w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2022\/04\/SuperBlock-8.5x11-1024x779.jpg 1024w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2022\/04\/SuperBlock-8.5x11-768x584.jpg 768w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2022\/04\/SuperBlock-8.5x11-1536x1168.jpg 1536w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2022\/04\/SuperBlock-8.5x11-2048x1558.jpg 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" title=\"SuperBlock-8.5&#215;11\" alt=\"Tacoma\" \t\tclass=\"so-widget-image\"\/>\n\t<\/div>\n\n<\/div><\/div><div id=\"panel-4090-0-0-1\" class=\"so-panel widget widget_sow-editor\" data-index=\"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><strong>April 28, 2022 (Tacoma, WA) \u2013\u00a0<\/strong>On the market for the first time in decades are the Tacoma Super Block and the 12<sup>th<\/sup>\u00a0&amp; A Street property, two premier development sites in downtown Tacoma\u2019s commercial core. John Bauder and Harrison Laird of Lee &amp; Associates Commercial Real Estate Services have been retained to represent the owner in the disposition.<\/p>\n<p>Known as the Tacoma Super Block, the larger of the two sites is nearly 2 acres and two full city blocks between S 13<sup>th<\/sup>\u00a0&amp; 14<sup>th<\/sup>\u00a0Streets, from Pacific Avenue to A Street.\u00a0Adjacent to Columbia Bank Center, the second site at 12<sup>th<\/sup>\u00a0&amp; A Street is just over \u00be of an acre.\u00a0Together, the two lots allow for over 2.6 acres of high-profile, water-and-mountain-view, developable property in the core of the Financial District.\u00a0Although currently used as parking for adjacent buildings, initial studies and plans indicate an ability to build nearly 1M square feet of office, retail, hospitality, and multifamily between the two properties. Their Downtown Commercial Core zoning allows a variety of uses and vertical development up to 400\u2019.<\/p>\n<p>Approximately $400,000 has gone into the design, planning, and pricing for a 250,000 SF office building on the Super Block with street level retail and underground parking. Additional feasibility studies have been completed for a hotel\/apartment tower on the 12th &amp; A Street property.<\/p>\n<p><em>\u201cThe Super Block is, without a doubt, the preeminent site for a new office building in Tacoma.\u00a0It\u2019ll be interesting to see who ends up buying the sites and what types of development that will bring.\u00a0With dozens of new multifamily projects around town and several new hotels, those cannot be ruled out as potential uses, either\u201d<\/em>\u00a0said Laird, Principal at Lee &amp; Associates.<\/p>\n<p>Downtown Tacoma has seen a significant increase in office investment, office leasing activity, multifamily development, and property values.<\/p>\n<p>Commercial building sales activity in the Tacoma submarket has drastically increased over the past 12 months. This increase included a significant spike in investment from investors located outside of the city. Regional and national investors represented the majority of these sales, a shift from prior years. According to CoStar, \u201csales volume in the downtown Tacoma submarket over the past 12 months sits at $123 million, compared to the five-year average of $42.3 million.\u201d<\/p>\n<p>Commercial leasing activity in the Tacoma and greater Puget Sound area is also rebounding significantly, topping pre-pandemic levels. With companies returning to the workplace and new leasing activity increasing, prospective investors for the properties will benefit from a surge in demand for commercial space.\u00a0Laird notes,\u00a0<em>\u201cTacoma has a rapidly growing workforce, beautiful public spaces, a downtown with second-to-none views, world class higher education institutions, and (relatively) affordable housing.\u00a0This creates a fertile ground for employers seeking talent.\u201d<\/em><\/p>\n<p>&nbsp;<\/p>\n<p>Downtown Tacoma and surrounding neighborhoods are also seeing heavy new multifamily and mixed-use development. Developer interest is piqued by several converging factors, including a shortage of housing stock; increasing rental rates; and Sound Transit\u2019s Hilltop Light Rail Extension, which extends the current line into the popular Stadium and Hilltop districts, with planned openings beginning in 2023.<\/p>\n<p>&nbsp;<\/p>\n<p>More information on the Tacoma Super Block sites can be found at\u00a0<a href=\"https:\/\/r20.rs6.net\/tn.jsp?f=001cyWMdI-3S3ZvmB04X4kTVrWhYMDHtGXPkF52ePi3fC8Pwgp0G1tZ1ODTwCG9vzJiotIHVep4mFqIi8u8Lh0m2noQn6UDdhUFs_HP3lfLRu8FKHOnYP6mYGCwmHg_4hApaWVAe-WzPipgToq5QshZyQ==&amp;c=2ZrQ2cktZ6uz_PpTd5o1myzvHTxrbxF78jOh1K-H2ChFaPFK5Udt3w==&amp;ch=LUfXxJPrT8g9OSyl1WDTOI-qZoy6IAGzxd0nrnDbcay-t5gZUu7v2A==\">tacomasuperblock.com<\/a><\/p>\n<\/div>\n<\/div><\/div><div id=\"panel-4090-0-0-2\" class=\"so-panel widget widget_sow-button panel-last-child\" data-index=\"2\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-button so-widget-sow-button-leeassoc-f54c0409268f-4090\"\n\t\t\t\n\t\t><div class=\"leeassoc-so-btn-base ow-button-base ow-button-align-center\">\r\n\t<a href=\"https:\/\/www.lee-associates.com\/northwest\/properties\/?propertyId=superblock&#038;address=1301-Pacific-Avenue&#038;officeId=2900\" class=\"sowb-button ow-icon-placement-left ow-button-hover\" \t\t>\r\n\t\t<span>\r\n\t\t\t\r\n\t\t\tClick Here to Learn More About the Offering\t\t<\/span>\r\n\t<\/a>\r\n<\/div><\/div><\/div><\/div><\/div><\/div><div id=\"pg-4090-1\"  class=\"panel-grid panel-has-style\" ><div class=\"panel-row-style panel-row-style-for-4090-1\" ><div id=\"pgc-4090-1-0\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><div id=\"pgc-4090-1-1\"  class=\"panel-grid-cell panel-grid-cell-mobile-last\" ><div id=\"panel-4090-1-1-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"3\" ><div class=\"panel-widget-style panel-widget-style-for-4090-1-1-0\" ><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<p>&nbsp;<\/p>\n<h2 style=\"text-align: center\">MEDIA CONTACT<\/h2>\n<p style=\"text-align: center\"><strong>John Bauder<br \/>\n<\/strong>Lee &amp; Associates<br \/>\n(253) 238-0043<br \/>\n<a href=\"mailto:jbauder@lee-associates.com\">jbauder@lee-associates.com<\/a><\/p>\n<p style=\"text-align: center\">\n<\/div>\n<\/div><\/div><\/div><\/div><div id=\"pgc-4090-1-2\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>April 28, 2022 (Tacoma, WA) \u2013\u00a0On the market for the first time in decades are the Tacoma Super Block and the 12th\u00a0&amp; A Street property, two premier development sites in downtown Tacoma\u2019s commercial core. John Bauder and Harrison Laird of Lee &amp; Associates Commercial Real Estate Services have been retained to represent the owner in the disposition. Known as the Tacoma Super Block, the larger of the two sites is nearly 2 acres and two&#8230;<\/p>\n","protected":false},"author":39,"featured_media":1124,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,1085,4],"tags":[1097,1096,1116],"class_list":["post-4090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-office","category-press-releases","tag-harrison-laird","tag-john-bauder","tag-tacoma"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>TACOMA\u2019S SUPER BLOCK DEVELOPMENT SITES HIT THE MARKET FOR SALE - 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\/2022\/04\/28\/tacoma-super-block\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TACOMA\u2019S SUPER BLOCK DEVELOPMENT SITES HIT THE MARKET FOR SALE\" \/>\n<meta property=\"og:description\" content=\"April 28, 2022 (Tacoma, WA) \u2013\u00a0On the market for the first time in decades are the Tacoma Super Block and the 12th\u00a0&amp; A Street property, two premier development sites in downtown Tacoma\u2019s commercial core. John Bauder and Harrison Laird of Lee &amp; Associates Commercial Real Estate Services have been retained to represent the owner in the disposition. Known as the Tacoma Super Block, the larger of the two sites is nearly 2 acres and two...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lee-associates.com\/northwest\/2022\/04\/28\/tacoma-super-block\/\" \/>\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=\"2022-04-28T21:54:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-28T21:56:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2019\/11\/Blog-Headers_Lee-Associates-Post.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=\"4 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\\\/2022\\\/04\\\/28\\\/tacoma-super-block\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2022\\\/04\\\/28\\\/tacoma-super-block\\\/\"},\"author\":{\"name\":\"Ashley Gaquin\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/#\\\/schema\\\/person\\\/9c7412d73ef5a4c0f2a3a46cbe7c6396\"},\"headline\":\"TACOMA\u2019S SUPER BLOCK DEVELOPMENT SITES HIT THE MARKET FOR SALE\",\"datePublished\":\"2022-04-28T21:54:41+00:00\",\"dateModified\":\"2022-04-28T21:56:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2022\\\/04\\\/28\\\/tacoma-super-block\\\/\"},\"wordCount\":740,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2022\\\/04\\\/28\\\/tacoma-super-block\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/wp-content\\\/uploads\\\/sites\\\/74\\\/2019\\\/11\\\/Blog-Headers_Lee-Associates-Post.png\",\"keywords\":[\"harrison laird\",\"john bauder\",\"tacoma\"],\"articleSection\":[\"Featured Industry News\",\"Office\",\"Press Releases\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2022\\\/04\\\/28\\\/tacoma-super-block\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2022\\\/04\\\/28\\\/tacoma-super-block\\\/\",\"url\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2022\\\/04\\\/28\\\/tacoma-super-block\\\/\",\"name\":\"TACOMA\u2019S SUPER BLOCK DEVELOPMENT SITES HIT THE MARKET FOR SALE - Lee &amp; 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John Bauder and Harrison Laird of Lee &amp; Associates Commercial Real Estate Services have been retained to represent the owner in the disposition. 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