2 Locations For Sale

JLL, as exclusive advisor, is pleased to present the outstanding opportunity to acquire 321 Lofts and Franklin Loft Apartments, two premier apartment communities located in downtown Olympia, Washington.

Built in 2016 and 1951 with adaptive re-use renovations completed in 2014, 321 Lofts and Franklin Loft Apartments (each, a “Property” and together the “Properties”) are 36-unit and 19-unit mid-rise apartment communities, respectively, located in the Historic District of Washington State’s Capitol. The Properties feature top-of-the-line interior finishes and contemporary amenities, including granite countertops, stainless steel appliances, and hardwood flooring. Additionally, 321 Lofts features air conditioning in each unit, in-unit washers and dryers, and ample parking. Franklin Loft Apartments features a fitness center, modern exposed interior concrete walls, and an on-site laundry room.

Located in downtown Olympia’s highly coveted Historic District, 321 Lofts and Franklin Loft Apartments boast a walk score of 94 and are surrounded by 1.6 million square feet of retail within a 1-mile radius. The approximately 13.5K SF of retail space at Franklin Loft Apartments is leased to Commencement Bank and Three Magnets Brewing, two historically strong tenants.

Situated one mile from Interstate-5, the Properties offer residents convenient connectivity to Olympia’s primary employers including Providence St. Peter Hospital with 2.1K employees and Joint Base Lewis-McChord, the second largest employer in Washington State with 54K employees. Additionally, the State of Washington Capitol Campus is a 15-minute walk from the Properties, and is the largest employer in Thurston County with over 30K employees.