Location: 1770 Airport Way S, Seattle, WA (SODO)
Asset Type: Industrial Flex / Owner-User
Sale Price: $1,602,500 | ±3,494 SF | $459 / SF
Service Lines: Advisory | Brokerage | Owner-User Strategy

The Opportunity

Holgate Square is a rare example of intentional industrial-flex development tailored for small and mid-sized businesses within Seattle’s urban core. Originally designed to address a critical shortage in in-city light industrial and flex space, Holgate Square offers tenants the ability to office, warehouse, fulfill, and distribute—all within minutes of downtown Seattle and the regional highway network.

In early 2024, AGM Real Estate and Lee & Associates successfully closed the sale of a ±3,494 SF unit within Holgate Square to an owner-user, marking another milestone in the project’s legacy of tenant retention, low vacancy, and operational functionality.

About the Project

Conceived and developed by Puget Properties in 2010, Holgate Square spans four addresses—including a 10-unit commercial condominium and several freestanding buildings—each blending industrial-grade features with contemporary office design. Located just blocks from Seattle’s Stadium District and adjacent to both I-5 and I-90, the site enables exceptional logistical efficiency for businesses serving the city core and beyond.

Key project partners included Johnson Oaklief Architecture and Planning and Anderson Construction Group (ACG), whose combined efforts produced one of the most versatile, durable, and user-friendly flex campuses in Seattle’s SODO submarket.

Property Highlights

• Close proximity to Seattle’s Stadium District and downtown core

• Industrial-flex format ideal for creative, fulfillment, or service-based users

• Features include natural light, high ceilings, roll-up doors, and gated parking

• High occupancy history and strong in-place community of entrepreneurial tenants

• Quick access to I-5, I-90, Port of Seattle, and transit options

AGM’s Strategic Role

As the exclusive representative on this transaction, Troy Gessel and the Lee & Associates team helped the seller identify a qualified owner-user buyer—navigating sale structuring and closing timelines in a highly active industrial-flex submarket. The team’s deep familiarity with Holgate Square and broader SODO market dynamics played a key role in presenting the property’s long-term value and utility.

Why This Matters

SODO continues to evolve as a strategic industrial and creative business hub, and Holgate Square remains one of its premier flex assets. The recent sale reflects the ongoing demand from owner-users seeking accessible space that balances flexibility with location, especially as Seattle’s traditional industrial zones grow more constrained.

What This Reflects About AGM

This transaction underscores AGM’s hands-on brokerage and advisory expertise in urban infill industrial and owner-user real estate strategy—matching functional product with the right buyer profile and market moment. It also demonstrates AGM’s continued presence in the SODO corridor as both a transactional advisor and strategic operator across syndication, asset management, and redevelopment consulting.