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July 13, 2015

Capitol Hill Site Comes to Market

Alm Globe St.

David Phillips

SEATTLE - The MidTown Center property, a full city block located on a major intersection at 23rd Avenue and East Union Street in Capitol Hill is coming to market for the first time in 70 years. The project is being marketed by Kidder Mathews' brokers Jason Rosauer, senior vice president, and Rob Anderson, both investment specialists.

"Located in the heart of an urban neighborhood connecting dense residential communities with the rapidly expanding business district, this property offers a unique opportunity to acquire a full city block, with incredible development potential in the fastest growing city in the country," said Rosauer.

The site is ripe for large-scale development and it's strategically located between major employment hubs in downtown Seattle, South Lake Union, and Capitol Hill and numerous dense residential communities. It is surrounded by significant new commercial development, as well as, over $43 million in improvements to 23rd Avenue by the City of Seattle. There are currently five structures on the MidTown site, and it is currently in the process of being rezoned to increase construction height on the site from 40 feet to 65 feet.

Kidder Mathews is one of the largest independently owned commercial real estate firms on the West Coast, with over 500 real estate professionals and staff in 10 offices in Washington, Oregon, and California.

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