SEATTLE – June 25, 2018 – JLL announced plans today to bring Mercer Mega Block, a versatile 2.86-acre land site located in Seattle’s South Lake Union, to market in early July on behalf of the City of Seattle.
With Seattle ranked as the leading economy in the nation, Mercer Mega Block is a prime asset to potential investors seeking a land acquisition opportunity. The Mercer Mega Block site provides maximum flexibility, with development potential for a variety of uses including office, retail, life sciences, multi-family or hotel, all with extraordinary water, mountain and city skyline views. As the last large undeveloped site in South Lake Union, Mercer Mega will benefit from unprecedented office and residential growth. It is located at the epicenter of technology and life sciences industries, with countless nearby retail and restaurant options, access to numerous cultural amenities, public transportation and parks, waterfront activities and views.
A plethora of exceptionally successful corporations and life science research institutions surround the site, including Amazon, Google, Facebook, Juno Therapeutics, the Bill & Melinda Gates Foundation, and the Fred Hutchison Cancer Research Center. Due to its prized location, the Mercer Mega Block offers investors a unique collaborative environment for Seattle’s top innovators to come together.
“South Lake Union is the hottest office market in the country, as evidenced by 14 consecutive years of positive net absorption,” said JLL Managing Director Lori Hill. “Existing businesses are expanding while new businesses are launching, creating a growing desire for companies and residents to be in this bustling urban neighborhood.”
With an overall workforce of 58,000 and a population of 32,000, South Lake Union boasts unlimited possibilities for investors. Moreover, future tenants will have over 240 restaurants, roughly 260 retail establishment, and world-class entertainment events to choose from when seeking experiential opportunities.
A myriad of transportation options surround the South Lake Union site, as well. Mercer Mega Block features easy access to SR-99, I-5 and SR-520, as well as to the South Lake Union Street Car. Alternative transportation options will include the RapidRide express transit and nearby metro bus stations. In the near future, Sound Transit’s Link will also be accessible to commuters and private bike share programs will be installing an additional 20,000 bikes. Mercer Mega Block is a truly unique investment opportunity. The site offers developers the opportunity to build more than a million square feet in the most desirable market in the country.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2017, JLL had revenue of $7.9 billion and fee revenue of $6.7 billion; managed 4.6 billion square feet, or 423 million square meters; and completed investment sales, acquisitions and finance transactions of approximately $170 billion. At the end of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of 82,000. As of December 31, 2017, LaSalle had $58.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.