Seattle, Wash. (September 18, 2015) - Port 106 LLC, part of Seattle real estate developers Kauri Investments and Ariel Development, has broken ground on a 25,000 square foot store for Total Wine & More, a national wine superstore chain. It will be the first structure built at this 7.71 acre redevelopment site in Seattle's Interbay neighborhood. The ownership of Port 106 will deliver the building to them for fixturing in November and anticipate Total Wine & More will open in the first quarter of 2016.
Total Wine & More completed a 10-year lease for the site, located at 1600 Armory Way, in 2013. Kidder Mathews real estate brokers Dave Speers, Tim Foster, Jason Rosauer, and Rob Anderson represented the landlord, Port 106 LLC, in the deal. Total Wine & More was represented by Lee Guillory of Seattle Pacific Realty.
Port 106 LLC already has a master use permit for a second 25,000 square foot building on the site and is currently in the process of obtaining permits for an additional 55,000 square feet. The redevelopment will also include replacing Armory Way with a new street with curb, gutter, sidewalk, and landscaping.
"Redevelopment of the Port 106 site continues the gentrification of the Interbay neighborhood," said Foster.
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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. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, sustainability, and project and construction management services for all property types. The firm performs $3.2 billion transactions, manages 31 million square feet of space, and conducts 1,300 appraisals annually. For more information, visit www.kiddermathews.com.