News & Press

Housing Authority Land Sale Helps Revitalize Yesler Terrace



Heartland’s work for Seattle Housing Authority on the Yesler Terrace Project has included technical market analysis, financial modeling, and high-level strategic direction. Heartland’s work helped to negotiate the $20 million sale of three blocks of land to Vulcan Real Estate which will help to catalyze the transformation of the property.

Source: Press Release Seattle Housing Authority

Weyerhaeuser moving HQ to Pioneer Square


Heartland LLC was engaged to represent Weyerhaeuser Company as both consultant and broker on the recently announced relocation of the company’s headquarters from Federal Way to 200 Occidental Avenue S in Seattle. Heartland has also been retained by Weyerhaeuser to assist with the disposition of the company’s Federal Way campus.

Source: Daily Journal of Commerce

Liz Dunn’s newest co-working company will be part of Seattle office development


As part of our series of Heartland Investment Opportunities (HIO), Heartland LLC through its affiliate, HIO 12th Avenue Investors LLC, funded the recapitalization and expansion of Liz Dunn’s 12th Avenue Marketplace Project.  The opportunity combined the recapitalization of approximately 70,000 square feet of existing retail, office and residential space with approximately 38,000 square feet of newly constructed office, ground-floor retail and penthouse residential units.  The development and operations are led by Dunn & Hobbes, a best-in-class local developer with a proven track record of creative, preservation-focused, place-making projects in Seattle’s Capitol Hill neighborhood.    

Source: Puget Sound Business Journal

Bellingham port close to waterfront deal with Irish developer Harcourt


Since 2012, Heartland has served as strategic real estate advisor for the Port of Bellingham’s Waterfront District, a 137-acre former Georgia Pacific pulp mill adjacent to downtown Bellingham.  With the Port and City collaborating on regulatory approvals, infrastructure costs, and environmental cleanup, the stage has been set for creation of an entirely extension of the City.  Heartland was engaged to develop and implement a market outreach plan to secure private investment into the District, key to helping transform the vision a reality.

Heartland engaged in a two-stage marketing process as a way to solicit the broadest possible response from the market.  With a focus on securing a master developer for at least the initial 10.8-acre first phase, we developed an RFI that resulted in responses from eight (8) qualified parties.  The feedback provided in the responses was then used to create a more robust RFP, which resulted in nine (9) proposals; four (4) from Master Developers, three (3) from Granary Developers, and two (2) from niche developers.  Currently we are assisting the Port in vetting these responses with the goal of selecting a preferred developer in early 2014.

Source: Bellingham Herald

Schnitzer West buys land for new office tower in Bellevue


In 2010, Heartland was engaged by Aspen Growth and its lender, Wells Fargo, to develop and implement a disposition strategy for a land asset in downtown Bellevue encumbered with unique development constraints benefitting a Bank of America branch that currently occupies the Site. This engagement involved a comprehensive review of the existing site conditions and due diligence materials, a comprehensive review of all “as vacant” land sale transactions in the Bellevue CBD in the past five years, a comprehensive analysis of the residential and commercial office markets in the Bellevue CBD over the next 10 years, and a detailed feasibility alternatives analysis of six different development scenarios for the site. We then developed an Offering Memorandum and used a high-touch marketing effort to reach out to a target list of qualified developers capable of absorbing the constraints and closing the deal.  Heartland’s actions resulted in the successful sale of the property to Schnitzer West in December 2013.

Source: Daily Journal of Commerce