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5/21/24
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BH Properties has acquired Pacific Place, a 2.08-acre, 335k sf upscale entertainment and shopping center in the heart of downtown Seattle. Strategically located at 6th Ave and Pine St between the Seattle Convention Center and the famed Pike Place Market, Pacific Place boasts five floors of retail space, the uppermost of which features an 11-screen AMC Theatre and various restaurants.
Developed in 1998, the regional indoor shopping mall received a multimillion-dollar renovation in 2019 and attracted top-tier national brands, including Tiffany & Co, AMC Theaters, Din Tai Fung, Haidilao, and others. Directly connected via skywalk to the adjacent Nordstrom Flagship store, Pacific Place is considered downtown Seattle’s premier shopping center and includes a 1,164-stall below-grade parking garage with capacity to serve both the property and surrounding community.
With the mall’s current occupancy at roughly 45%, BH Properties plans to attract local, regional, and national retailers to deliver a first-class shopping experience with a uniquely Seattle flavor.
Avison Young will continue to lease and manage Pacific Place on behalf of BH Properties. Greg Sullivan with BH Properties will lead the transformation efforts.
Pacific Place is strategically positioned to benefit in the long term from its location within the Pike/Pine retail corridor. Its adjacency to Amazon BlueShift’s new Downtown Seattle office and its new grand entrance fronting the booming tech presence on Denny Triangle combine to provide invaluable support for the firm’s leasing plans.
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