Updated Dec 4, 2024
Tim Cook Of Apple Leases 190000 Square Feet Office Space From Ponte Gadea In Seattle
333 8th Avenue North
Building Size
190,000 SF
Asset Type
Office
Closing
Nov 5, 2024
About this deal
AI
The property asset involved in the transaction is the Arbor Blocks building located at 333 8th Avenue North in Seattle, WA. This office space consists of approximately 190,000 square feet and was previously occupied by Meta. The building is now leased to Apple Inc., marking a significant transaction in the local market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 333 8th Avenue North
- Market: Seattle, WA
- Landlord: Ponte Gadea
- Tenant: Tim Cook - Apple
Tim Cook, representing Apple, has executed a direct lease agreement with Ponte Gadea, the owner of the property. This transaction reflects a strategic move by Apple to establish a presence in the South Lake Union area.
On the Map
Office
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Seattle Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93