Broderick is a 69,451 sq. ft. Heritage Office Building located in Pioneer Square submarket 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.
The building was purchased along with the MiKen 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 home to a diversified tenant mix including tech and software companies, law firms, and financial advisors, as well as an excellent mix of retail tenants including Starbucks and Seattle Mystery Book.
The building is located in very close proximity to mass transit hubs, which is a key attribute in attracting tenants as over 80% of tenant employees use public transit to commute to work.
The Broderick Building is located at the edge of a unique office market known as Pioneer Square, bordering on the Central Business District (CBD). Pioneer Square is a neighborhood in the southwest corner of Downtown Seattle. The unique location of the Broderick Building attracts tenants who seek the rare characteristics of Pioneer Square while keeping connected with the downtown core.