News & Press

Antioch University Seattle Campus – Sale of existing building and Lease of new building


After a local and national RFQ process, Antioch University selected Heartland LLC to develop and implement a real estate strategy for its five national campuses. One of its campuses, Antioch University Seattle, is currently housed in an aging building in the Denny Triangle neighborhood.  The Heartland team, in collaboration with Gensler, a global architecture firm, conducted a real estate alternatives analysis and determined that a sale of the property would best serve the university’s mission.  Heartland represented Antioch in the sale of the 32,000 square foot property, which closed in Fall 2015 for $26.5 million.  Heartland also helped Antioch identify, select and lease a new campus located at 3rd and Battery Street. Antioch’s commitment to adult learners in Seattle will continue upon completion of this new 38,000 square foot facility  in Fall 2016.

Source: Puget Sound Business Journal

At long last, Liz Dunn’s Chophouse Row project is completed (slideshow)


As part of its series of Heartland Investment Opportunities (HIO), Heartland partnered with Liz Dunn to fund the recapitalization and expansion of the 12th Avenue Marketplace Project located along the Pike-Pine Corridor of Capitol Hill. Led by Dunn & Hobbes, a best-in-class local developer with a proven track record of creative, preservation-focused, place-making projects in the Capitol Hill neighborhood, 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 Design Team is a collaboration between Graham Baba and Sundberg Kennedy Ly-Au Young and the contractor is MRJ Constructors.  Heartland is acting as an asset manager and resource to the development team, adding value through our in-depth understanding of local zoning, market dynamics, and project financing. Heartland successfully recapitalized the ~$11.6 million project, including over $5.6 million in HIO equity.

Source: Daily Journal of Commerce

Port of Bellingham: Harcourt can start to rebuild waterfront site, Granary


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 new neighborhood 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.   With a focus on securing a master developer for the 20-acre initial phase, Heartland engaged in a two-stage marketing process, with the Port ultimately selecting Harcourt Developments from among nine (9) proposals. Heartland then assisted the Port in negotiation of a Master Development Agreement with Harcourt, which was executed March 2015.

Source: The Bellingham Herald

Deva Dawson named Board Member at Bellwether Housing


Source: Puget Sound Business Journal

Big new skyscraper planned for Second and University designed to look like a forest


Since 2012, Heartland has been working with the Samis Foundation to leverage one of its largest assets at Second and University in downtown Seattle to better serve the Foundation’s educational mission for generations to come. After extensive negotiation, the Samis Foundation executed a 99-year ground lease with Skanska USA, who is planning to build an  iconic +/-725,000 square foot office building with a projected opening in 2019.

Source: Puget Sound Business Journal