BH Properties Acquires Pacific Place Shopping Mall in Seattle – Connect CRE

BH Properties has added to its Pacific Northwest portfolio with the acquisition of Pacific Place, a 2.08-acre, 335,000-square-foot upscale entertainment and shopping center in the heart of downtown Seattle.

Strategically located at 6th Avenue and Pine Street between the Seattle Convention Center and Pike Place Market, Pacific Place has five floors of retail space, including an AMC Theatre and restaurants. Avison Young will continue to work with BH Properties to lease and manage the property.

With the mall’s current occupancy at roughly 45%, BH Properties plans to attract local, regional, and national retailers. The firm’s new Managing Director of Retail, Greg Sullivan, will lead the transformation efforts. Pacific Place is strategically positioned to benefit from its location within the Pike/Pine retail corridor and its proximity to Amazon BlueShift’s new Downtown Seattle office.

“Downtown Seattle is deserving of a first-class shopping and dining destination, and Pacific Place’s location boasts all of the economic and demographic support required to restore it as Seattle’s premier shopping experience,” said Jim Brooks, president of BH Properties.