GBC Bank Building

Challenge

Our team was engaged to acquire a mixed-use retail and office building at 16001 Aurora Avenue North in Shoreline, Washington on behalf of the buyer. The property, built in 2004 and totaling 9,044 SF, was owner-occupied at the time of sale. Securing the acquisition required structuring a leaseback arrangement so the seller could continue operating from the building after closing, which added a layer of negotiation complexity to an otherwise straightforward purchase.

Action

We represented the buyer through the acquisition and focused on structuring terms that worked for both parties. The key to closing was negotiating a five-year triple net leaseback with the seller, who would remain as the ground-floor tenant under GBC Bank. This arrangement gave the buyer immediate, stabilized occupancy from day one while allowing the seller a defined transition period. Aligning both sides on lease terms, rent, and closing conditions required close coordination throughout the process.

Result

• Acquired the 9,044 SF mixed-use building at 16001 Aurora Avenue North, Shoreline, WA
• Sale price: $3,400,000 ($376 per SF)
• Negotiated and executed a five-year triple net leaseback with GBC Bank at closing
• Delivered the buyer a tenanted, income-producing asset from the date of closing