CHSW is a statewide non-profit organization dedicated to improving the lives of children. Heartland first worked with CHSW in 2008 to evaluate their portfolio of properties, spread across eight (8) geographic locations throughout the state. The primary objective was to inventory the real estate assets held by CHSW and to provide a current valuation of each asset, informed by site context, market forces, site conditions, and development capacity.
Heartland’s updated analysis in 2012 led to the decision to surplus a key land asset in the Ravenna-Bryant neighborhood of Seattle that has been home to CHSW for over 100 years. Encompassing an entire city block at 3.7 acres, interest in the property was strong and multiple offers were received. The property was sold to Polygon Northwest in January 2014 with a leaseback provision that allows CHSW to remain on the property as they search for replacement space for their corporate headquarters. Heartland is assisting the Society in this effort.
Source: Daily Journal of Commerce