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Meriwether Buys Retail Property on Eastlake

SEATTLE, July 1, 2015 – Meriwether Partners announced the acquisition of the 2501 Eastlake property in Seattle, WA. The buying entity is 2501 Eastlake Partners LLC, a private partnership that includes the principals of Meriwether along with high-net worth individuals.

The property includes a 7,431 RSF retail building located in the Eastlake neighborhood of Seattle, WA. The building is situated on a 10,776 square foot parcel. In addition, to the west of the building is a 7,146 parcel currently used as a surface parking lot.

At acquisition, the property was 97% leased to five commercial tenants, including Mammoth, a beer and sandwich restaurant run by the owners of Bitterroot BBQ in Ballard.

“We’re excited to find these kind of small close-in properties that ultimately lend themselves to being redeveloped over the long term.” said Brian Oseran of Meriwether. “We really like the dynamics and centrality of the Eastlake neighborhood.”

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Meriwether Partners is a real estate investment firm with offices in Seattle and Portland. We form partnerships to acquire and manage real estate investments on behalf of the Meriwether principals, high-net worth individuals, family offices, and institutions.

Meriwether was founded in 2002 by Joel Aslanian and Robert Briscoe who have worked together since 1998. The company has acquired more than 2 million square feet of commercial real estate at a cost of over $300 million.

The firm’s primary investment focus is in the Seattle and Portland metropolitan areas. Meriwether invests in properties that are well-located with sound physical and economic fundamentals; properties that have the ability to generate attractive levels of distributable cash; and properties to which we can add value by executing recapitalization or repositioning strategies.

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