Pacific Place Acquired

SEATTLE—Madison Marquette has acquired Pacific Place, downtown Seattle's premier urban retail destination. The acquisition conforms with Madison Marquette's concentration in targeting infill, retail and mixed-use properties in major coastal gateway markets throughout the United States, the company says. The multi-level project is 90% leased, totaling nearly 350,000 square feet and will be managed and leased by Madison Marquette's Retail Services Group (MMRS). 

“Madison Marquette's acquisition of Pacific Place extends our firm's long-established strategy of focusing on strong infill investments in dense, affluent urban markets with considerable upside potential. Pacific Place is currently Seattle's most successful retail and entertainment destination with over six million annual visitors – fitting the profile of a project ideally suited to our integrated investment and operating platform,” said Chad Eisenbud, Director of Investments, Madison Marquette Property Investments.

With more than 50 retail, dining and entertainment offerings and its walkway to Nordstrom's flagship store, Pacific Place has a coveted tenant roster in the heart of downtown Seattle. With upscale retailers like Barneys New York, Tiffany & Co, Kate Spade, and J.Crew, and a collection of specialty restaurants, the center promotes a wide variety of shopping and entertainment interests.

The acquisition of Pacific Place is part of Madison Marquette's strategic effort to assemble a national portfolio of infill retail and mixed-use assets in dynamic gateway markets who benefit from exceptional levels of economic expansion. With Seattle's strong market fundamentals, including population, income and employment growth, Pacific Place offers a uniquely appealing investment and management opportunity.

Madison Marquette is a private real estate investment and operating company, founded in 1992.