Offering Summary


Atrium presents a rare opportunity to purchase a condo-quality, irreplaceable asset in Seattle, recently named the top investment market in the nation by ULI in their 2018 Emerging Trends in Real Estate report. The Atrium is an 18-unit multifamily community with ±6,894 square feet of retail space which is 100% leased. Built in 2014 by the founder of Compass Construction, a top multifamily and mixed-use contractor in Seattle, The Atrium features best-in-class construction with high-end contemporary finishes.

The Atrium is surrounded by some of the most breathtaking views in the Mount Baker neighborhood. Residents enjoy views of nearby mountain ranges and bodies of water, Mount Rainier, and the city skylines of both Seattle and Bellevue from the apartments and the rooftop deck. Centrally located between the two largest employment hubs in Washington State: Seattle and Bellevue, residents are within 10 to 15 minutes of over 450,000 jobs at companies such as Amazon, Boeing, Google, Expedia, Facebook, Microsoft, Nordstrom, Paccar, Starbucks, Weyerhaeuser, and more.

Additionally, The Atrium is only five minutes from the current Mount Baker Light Rail station. The future Judkins Park Light Rail station is within nine blocks with service beginning in 2023 to downtown Seattle, Bellevue, and Redmond.


Submarket vacancy rate


Average HH income within half a mile


Building occupancy

Executive Highlights

  • List Price: $11,250,000
  • Trophy asset: Best-in-Class construction
  • Generational real estate offering: rare opportunity
  • Luxury, boutique mixed-use building: 100% occupied
  • 18 spacious apartment homes averaging ±805 square feet
  • ±6,894 SF of retail space occupied by quality tenants
  • Sweeping views of downtown Seattle, downtown Bellevue, Lake Washington, and Mt. Rainier from most homes; best rooftop deck in Seattle with 360-degree views
  • High-end contemporary finishes and community amenities
  • Energy efficient, green buildling: lower operating expenses; appeals to Seattle renter profile
  • Built to condominium specifications: ideal condo conversion candidate
  • Unique interior atrium courtyard with suspended translucent catwalk
  • Exclusive downstairs speakeasy lounge for ownership and residents: event space for private parties with room for over 100 guests
  • Conceived, developed & built by the founder of Compass Construction: top tier multifamily, mixed-use contractor in Seattle
  • Core Seattle location: centrally located to Seattle’s most popular neighborhoods: Capitol Hill, Pioneer Square, Central Business District, First Hill, and SoDo
  • Located in the quaint, sought-after Mount Baker neighborhood: median home prices of nearly $900K with lack of new construction product
  • Walking distance to Lake Washington, popular restaurants, boutiques, bars, and parks
  • Excellent proximity to Interstate 5 and 90, Seattle CBD and Eastside employers
  • Quick commutes to major employers: Amazon, Boeing, Expedia, Facebook, Google, Port of Seattle, Starbucks, & others
  • Five minutes to current Mount Baker Light Rail station
  • Nine blocks from future Light Rail station with service to Seattle, Bellevue, and Redmond beginning in 2023

Community Amenities

  • Blend of contemporary, classic, and industrial design and aesthetics
  • Exceptional rooftop deck with sweeping views of Seattle and Bellevue skylines, Lake Washington, and Mount Rainier
  • Rooftop BBQ area with indoor kitchenette and wet bar
  • Fenced dog run
  • Cool cache speakeasy with exclusive access: space for private social events for ownership and residents with room for over 100 guests
  • Secured parking garage with 22 reserved stalls available for lease
  • Additional storage space available for lease
  • Controlled-access, elevator-served building
  • Bike storage available

Apartment Home Amenities

  • Spacious floorplans averaging ±805 SF
  • Majority of the homes are two-bedroom floor plans
  • 9’ ceilings in all homes
  • Stainless steel Energy-Star-rated GE appliances with gas stoves
  • Undermount sinks with quartz countertops and backsplashes
  • Upgraded fixtures, designer lighting & USB outlets
  • Oversized windows capture scenic and Seattle or Bellevue skyline views from most homes
  • Luxury vinyl plank flooring in living and wet areas, high-end carpeting in bedrooms
  • Gas fireplaces and walk-in tiled showers in two-bedroom homes
  • Walk-in closets in select homes
  • Spacious decks or large balconies in most homes
  • Built-in nooks in front entryways of all homes

Market Overview

Central Location to Major Employers

  • Within 10 minutes of Seattle CBD: over 300,000 jobs
  • Downtown Seattle adding an average of 25 new jobs per day
  • Almost 5 million SF of office space under construction in Seattle CBD; approximately 65% pre-leased
  • 5 large office buildings under construction in Seattle CBD are fully pre-leased to Facebook, Google, and Amazon
  • Amazon’s World Headquarters in Seattle currently expanding to nearly 14 million SF by 2020: capacity for 72,000 employees
  • Over 100 tech companies with engineering offices in Seattle
  • Google expanding to 607,000 SF South Lake Union campus in 2019
  • Facebook added 2,000 employees in 2016 at their new SLU location; Seattle footprint of nearly 1 million SF with plans for further expansion
  • Within three miles of Swedish Medical, Virginia Mason, Harborview Hospital, and Seattle University
  • First Hill supports nearly 80,000 jobs
  • F5 moving their corporate HQ to new 516,000 SF tower in CBD in 2019
  • Bill & Melinda Gates Foundation: most significant global health organization in the world; current endowment of $50.7 billion
  • South Lake Union has become a life science employment hub and is one of the fastest growing centers in the nation
  • Fred Hutchinson Cancer Research Center receives more funding from National Institute of Health than any other independent U.S. Research Center
  • Expedia relocating to 40-acre campus in Seattle by 2020 with 5,000 employees
  • Bullitt Center in Capitol Hill is the greenest commercial building in the world; 50,000 SF of office space just north of The Atrium
  • Microsoft’s 10 million SF world headquarters in Redmond 25 minutes east: 34,000 employees

Strong Regional Fundamentals - Greater Seattle Area

  • Seattle MSA ranked top investment market in the nation
  • Tri-County rents grew 7.8% in 2017 and 7.5% in King County
  • Puget Sound added 61,000 new jobs in 2017, and another 56,800 are projected for 2018
  • 139,900 new jobs projected from 2018 – 2022 in Puget Sound region
  • Puget Sound employment grew 2.9% in 2017 compared to national average of 1.5%
  • Seattle ranked #2 in the nation for businesses and careers in 2016 by Forbes
  • Seattle MSA ranked #3 on Glassdoor’s Best Cities for Tech Jobs based on employment & salary growth
  • Seattle MSA ranked #1 best metro area for STEM professionals in 2017 by
  • Seattle MSA ranked #2 for highest percentage of workforce in STEM and #1 in STEM wage growth
  • Personal incomes for Puget Sound grew 9% over the past two years combined
  • Puget Sound Regional Council projects 4.5% personal income growth in 2018
  • Every five new jobs creates one net new renter; projected 27,980 net new renters between 2018 - 2022 for Puget Sound region
  • 5.7% population growth forecasted from 2018 - 2022 for Puget Sound region
  • Seattle MSA has the fastest rising home prices in the nation at 12.3% coupled with a lack of new construction: high barrier-to-entry market

#1 City in U.S.
to find a job

Wallet Hub, 2015

#1 Fastest-growing
big city

US Census Bureau

#2 top city
for tech jobs

Geekwire, 2016


Mount Baker

Located in southeast Seattle, Mount Baker is a neighborhood of Seattle named after Mt. Baker in northern Washington State, the third largest mountain peak in Washington. On clear days, residents of Mount Baker can look north over Lake Washington and see the namesake peak on the horizon. Mount Baker is bounded by Lake Washington to the east, Interstate 90 and Leschi to the north, Rainier Valley to the west, and Columbia City to the south. The neighborhood is dotted with impressive homes and waterfront parks with some of the best views of the Seattle and Bellevue skylines in the region.

A bustling business district is located on along Rainier Avenue minutes from The Atrium with popular restaurants, boutiques, and bars. With the recent addition of the Mount Baker Light Rail Station, residents enjoy easy commutes and accessibility to downtown Seattle and Sea-Tac Airport. An additional Judkins Park Light Rail station is planned for the northern part of Mount Baker, only nine blocks from The Atrium and will expand service to Bellevue and Eastside employers by 2023.


Surrounded by water, snow-capped mountains, and evergreen forests, Seattle is one of the most picturesque cities in the Pacific Northwest and features the most recognizable skyline on the West Coast. Seattle has an estimated population of over 704,000 with nearly four million people for the metro area. With a booming tech industry and home to Amazon’s global headquarters, Seattle is the second best tech market in the nation, only behind San Francisco. Other Fortune 500 companies in Seattle include Apple, Boeing, Facebook, Google, Microsoft, Nordstrom, Starbucks, and Weyerhaeuser.

In 2016, Seattle was ranked the fastest growing city in the U.S. with an annual growth rate of 3.1%. Residents of the city enjoy a much lower cost of living than other cities such as San Francisco and New York, but still enjoy all the attributes that big cities have to offer such as a thriving arts scene, world-class restaurants, and several mass transit options.


Bellevue has undergone tremendous change and growth, primarily because of the city’s talented workforce and rapidly growing downtown area. Its leasable office space has grown nearly 50% since 2000. The City has become a major player in the global marketplace with many companies having chosen Bellevue for their corporate or regional headquarters. Bellevue is home to such companies as The Disney Company, Eddie Bauer, Infospace, Microsoft, Symetra Financial and Yahoo!.


Seattle CBD

Atrium is less than 10 minutes Seattle’s Central Business District (CBD). The CBD is the Pacific Northwest’s largest employment center which accounts for over 300,000 jobs. Major employers comprising the CBD job market include Amazon, Bank of America, Blue Nile, CenturyLink, Chase, Cobalt, Dendreon, DocuSign, EA Sports, Facebook, Getty Images, Google, Kaiser Permanente, HTC, Hulu, King County, Microsoft, Nordstrom, Oracle, Onvia, Port of Seattle, Russell Investments, Safeco Insurance, Starbucks, Swedish Medical Center, Twitter, Virginia Mason, Vulcan, Washington State, Wells Fargo, and Zillow.


Founded by Jeff Bezos in 1994, Amazon is the global leader in e-commerce and cloud computing with their world headquarters in Seattle. Amazon’s cloud computing services are among the largest in the world, serving everyone from small companies to large corporations and government agencies. In 2015, Amazon surpassed Walmart as the most valuable retailer in the U.S. by market capitalization. Amazon is the largest internet company in the world and the second most valuable public company in the world. Additionally, Amazon is the eighth largest employer in the United States.


Google currently employs 3,000 people between its Seattle, Kirkland, and Bothell offices, making the Puget Sound the company’s third largest engineering location in the U.S. Google’s Kirkland and Seattle workforce is comprised mostly of engineers that are entirely responsible for Google Talk and Talk Video and helped to build Google Maps. Additionally, the Seattle and Kirkland offices have made significant contributions to Android, AdSense, AdWords, Analytics, Cloud, Chrome and Chrome OS, Gmail, the Google App., Search, YouTube, and much more. Google’s presence in the Puget Sound region began in 2004, when it leased 30,000 square feet of space from Getty Images in Seattle’s Fremont neighborhood. Their Fremont location is currently 152,000 square feet and the company recently announced plans to expand to 607,000 square feet in Seattle’s South Lake Union neighborhood by early 2019.

Bellevue CBD

Bellevue is a major regional job center, employing more than 150,000 people and is becoming a leader in commerce, international trade, and technology innovation for the region. The city is also establishing itself as a global player, with large companies having major world, national, or regional offices in Bellevue including Microsoft, T-Mobile, Eddie Bauer, Verizon Wireless, and more. Other large employers in Bellevue include Bellevue College, City of Bellevue, Safeway, Quality Food Center (QFC), Nordstrom, Savers (the Value Village operator), and Bellevue School District, which is one the top school districts in the nation.


Facebook, the multi-billion dollar online social networking service based out of Menlo, California, is the largest American owned IPO in history. The company has occupied space in Seattle since 2010. In 2015, Facebook expanded with a new move and ten year lease for 274,000 square feet at Dexter Station, just 15 minutes south of the Property. Within the last two years, Facebook has doubled its workforce in Seattle with an estimated 2,000 current employees. The company continues to grow by preleasing multiple buildings in South Lake Union. Facebook employs mostly programmers in its Seattle office and is expected to be one of the largest employers in SLU once they are fully occupied in their leased spaces.


Starbucks for its start in 1971 at Pike Place Market in downtown Seattle with the intention of being a world-wide coffee roaster and retailer with the best coffee on the market. 45 years later, Starbucks has become the best-known coffee chain globally and their Pike Place Market storefront has become a tourist destination. In addition to their original location which is still in operation, Starbucks now has over 26,700 locations around the world. Starbucks’ corporate headquarters is located less than 12 minutes from The Atrium in Seattle’s SoDo neighborhood.


Microsoft is the world’s largest software company with their global headquarters located in Redmond, less than 15 miles east of The Atrium. Microsoft currently employs nearly 135,000 globally with over 50,000 employees in the Puget Sound Region making it the second largest employer in the state behind Boeing. Over 34,000 employees are located at their Redmond headquarters with the remaining employees centered in Bellevue and South Lake Union. Economists report that the multiplier for each Microsoft job is an additional 3.4 new jobs in the area. The average Microsoft salary is $225,000 including options and benefits, which is one of the highest in the tech industry.

Due Diligence

Please register to gain access to the due diligence documents.