MiKen is a 45,859 sq.ft. office building in Seattle, WA. The property was acquired by MDC through co-investment with private clients. MDC provided investment and property management services for this asset.
Miken was purchased along with the Broderick building in March of 2014 and sold in February of 2017. Rents were below market and through active management and leasing occupancy was over 95% during the short hold period.
The building is situated along mass transit stations, in a location that is well-suited to capitalize on the job growth that is present in Seattle’s tech sector.
The historic asset provides many unique “brick and beam” suites that are highly sought after by Seattle tenants. The MiKen Building is leased to a variety of tenants including TD Ameritrade, Scott Trade, Marcella’s La Boutique, and Tiger Oak Media.
The MiKen Building is located in the heart of Seattle’s Central Business District (CBD) at the “50-yard line” of downtown Seattle. Between Union and Pike on Fourth Avenue, the property is close to the retail core properties such as Nordstrom, Macy’s, Pacific Place, Rainier Square and Westlake Center, and is in the center of Seattle’s major financial office core properties.