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333 8th Avenue North

Updated Dec 4, 2024

Tim Cook Of Apple Leases 190000 Square Feet Office Space From Ponte Gadea In Seattle
LEASEDOffice

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.

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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

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