Kidder Mathews represented the seller in the $53.45 million, 180,000-square-foot sale of SODO Urbanworks to Nicola Wealth, a Canada-based financial planning and investment firm. Now, Kidder Mathews’ Asset Services group is tapped to manage the property as well.
“The site has performed well through the COVID crisis,” says Kidder Mathews Senior Vice President Mike Grainger. “Our tenants are reporting strong activity, and they’re excited for the future of the center.”
SODO Urbanworks is fully leased to a diverse group of tenants that includes 10 different winery tasting rooms open to the public, a seltzery, a restaurant, and some warehouse tenants. It is located in the heart of Seattle’s SODO neighborhood, one of the most sought-after industrial markets in the country. The property was originally constructed in 1942 and converted to a multi-tenant property in the 1980s. Its most recent renovations transformed the warehouse areas to accommodate tasting rooms and live events.
With SODO Urbanworks, Kidder Mathews now manages over 1.5 million square feet of properties for Nicola Wealth in Washington, California, and Arizona. SODO Urbanworks is one of several properties where Kidder Mathews was involved in the sale transaction with Nicola Wealth and subsequently awarded the management of the project. Other projects include Gateway Corporate Center, University District Building, Redmond West in the Puget Sound area, and Pinnacle Peak and Cabot Business Center in Phoenix, Arizona. Senior Vice President Mike Grainger and Vice President Drew Hicks will lead property management for SODO Urbanworks.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with 900 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $8 billion in transactions, manages over 70 million square feet of space, and conducts over 1,800 appraisals annually. For more information, visit kidder.com.
About Nicola Wealth
Nicole Wealth is a Canada-based financial planning and investment firm that manages
$9.2 billion in assets for families, entrepreneurs, and professionals. The firm has more than 200 staff and four offices in Vancouver, Kelowna, Richmond, and Toronto.
For more information, visit us.nicolawealth.com.