Building of concrete tilt construction, originally appraised in shell condition, on an As Is and an At Completion basis. Three appraisal updates were subsequently prepared, over the course of tenant improvement completion. All three valuation methodologies were employed while valuing this property.

Modern laboratory building, with the majority of the space owner occupied. One floor and the bulk of the parking garage is leased to Puget Sound Blood Center. In valuing this property, recent sales for comparable biomedical and medical properties in the area were considered, as well as recently signed biomedical and medical leases. Knowledgeable market participants were also consulted regarding biomedical and biotechnical spaces.

Leased to Seattle Biomedical Research Institute and Children’s Hospital and Regional Medical Center as the major tenants, with two retail tenants on the ground floor. Appraisal employs all three standard approaches to value.