Capstone Partners plans, finances, implements and manages commercial real estate investments for investors and organizations
across the Pacific Northwest.
Suburban Master Planned Development
Esterra Park is a 30-acre master planned community just off SR-520, adjacent to the Microsoft campus and the new Overlake Light Rail Station. The mixed-use project has residential, commercial and hospitality uses—as well as a large park for residents, visitors and employees—and includes over 2,600 new apartments in six different communities, each with differing amenities, floor plans, and personalities.
One Esterra Park is a 250,000 sf of Class A high-tech office building that is fully leased to Microsoft, designed with large floor plates, tall ceilings, abundant parking, and extra power.
The centerpiece of Esterra Park is The Park at Esterra, a 3-acre gathering place that combines relaxation, food, music, and nature in a way that is genuine to our lives here in the Northwest.
Open since 2017, the 285-room Westin Hotel includes both extended stay options (Element Hotel) and short-stay options (aLoft Hotel), combined into one facility that gives travelers and guests the flexibility they need in today’s vibrant world.
Urban Multifamily Development
Two blocks from the shores of South Lake Union and adjacent to Capstone’s Dexter Station office project, The Union is a podium-style apartment project located at the north end of the South Lake Union Neighborhood within easy walking distance of Amazon’s campus, the Bill and Melinda Gates Foundation, the University of Washington South Lake Union medical campus, and a wide range of other employers, restaurants, services, and amenities.
Capstone was one of the earliest developers to commence a significant new apartment project after the Great Recession. The project boasts fantastic views of South Lake Union, four roof decks, and one of the most outstanding roof top community spaces in the entire city. The Union leased up 50% faster than anticipated and is currently 97% leased.
Urban Retail – Adaptive Reuse
8,000 sf of retail
Anchoring Portland’s Slabtown district, Slabtown Marketplace is part of the mixed-use Block 296 project. A single-story warehouse built in 1950, this fully renovated space is now occupied by New Seasons Market, Breakside Brewery, and 8,000 sf of retail shops, which share a plaza and above-grade parking with the new, six-story LL Hawkins apartment building. Here, residents live in 113 studio, one-bedroom, and two-bedroom apartments above an additional 10,800 sf of retail shop space.
Multiphase Logistics Park Development
Featuring state-of-the-art construction in an outstanding central location, PDX Logistics Center is a master-planned, three-phase, five-building industrial development in Portland’s Airport Way submarket. Located approximately one mile from Air Cargo Road, with superb access to I-5, I-205, and I-84 and two light rail stations within a short walk, this site offers unparalleled transit accessibility. Tenants range from 26,000-383,000+ sf and include bulk distribution, light manufacturing, and last-mile delivery.
Directly adjacent to the PDX Logistics Center is, of course, Portland International Airport (PDX), which features a significant air cargo facility with six air cargo carriers and serves as a major hub for FedEx and UPS. The nearby Cascade Station offers 47 retail stores and restaurants.