Jones Lang LaSalle Incorporated : Pioneer Square office project receives $90M in construction financing

SEATTLE, Feb. 11, 2022 -JLL Capital Markets announced today that it has arranged $90 million in construction financing for The Jack, an office development currently under construction totaling 146,000 square feet in Seattle, Washington.

Working on behalf of Urban Visions, JLL secured the construction loan, provided by an affiliate of Mack Real Estate Credit Strategies, L.P.

Anticipated to deliver in Q1 2023, The Jack is designed by renowned architect Olson Kundig and will consist of an eight-story brick and glass building offering 20,000-square-foot flexible floorplates, 42 below-grade parking spots, on-site secure bike storage and a 17,000-square-foot outdoor terrace / roof deck. The Jack is pursuing LEED Gold, WiredScore, Salmon Safe and WELL Building certifications.

Located at 74 S. Jackson St., The Jack is in the heart of Pioneer Square and opens onto the amenity-rich Seattle Waterfront development that will offer 20 acres of contiguous pedestrian open space. The property boasts a Transit Score® of 100, a Walk Score® of 96 and a Bike Score® of 90 and is convenient to all of the cultural, retail, entertainment and dining amenities Downtown Seattle has to offer.

The JLL Capital Markets team representing the borrower consisted of Senior Managing Director Bruce Ganong, Director Kaden Eichmeier and Associate Christopher DuCharme

"Seattle remains one of the most active office construction markets in the country driven by over 2.5 million square feet of active tenant requirements," said Ganong. "The Jack with it's unique on the waterfront location is well-positioned to capitalize on this robust tenant demand."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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