Last week we reported on The Bravern’s 1-year anniversary and some of their milestones. Over the weekend the Seattle Times published an article on The Bravern and reported some interesting stats and information about the project:
- The retail space is 82% occupied (about 10 vacancies).
- Tom Woodworth, senior investment director for Schnitzer West, was quoted, “We have a number of retailers performing at their highest levels on a sales-per-square-foot basis in the country.”
- Neiman Marcus did not go into detail about performance, but commented that they were “very pleased” with the 1st year.
- John Howie set a goal for his new steakhouse, John Howie Steak, in 2007 before opening – $6.6 million in sales. Although not hitting the goal, he will come close – doing about $6.0 million (about 10-11% off his goal).
- The apartments at The Bravern are more than 55% occupied (not sure if this percent is just from the units available or the whole South Tower that was converted to Apartments).
- The Bravern plans to announce 2 – 3 new shops this fall.
The Bravern is a JOKE.
82% is not a terrible number… even Lincoln Square has a couple of vacancies.
The problem though is Bravern really turns into some sort of freezing wind tunnel when the weather is not good.
The architect forgot this is not LA… Definitely not a great design for the winter season.
Agree Kevin, 82% is quite good especially considering it’s a new project.