March 19, 2019

Goodbye, Golden Arches. Hello, Chase Bank

Photo by Brian Miller [enlarge]

The Westlake Avenue McDonald’s has been in operation for 40 years. No closing date has been announced.

On a small triangle in the heart of the central business district, at 1953 Westlake Ave., there's been a McDonald's in operation since 1979. That's about to change.

The local property owners recently filed plans for a change of use from restaurant to business. The new tenant will be Chase Bank. On behalf of the owners, Ankrom Moisan and Coffman Engineers have filed the plan for a substantial building renovation. Stantec Architecture is also listed on some prior plans, as is Rensch Engineering.

The 4,267-square-foot parcel is also bounded by Virginia Street and Sixth Avenue. The streetcar runs past it along Westlake. The property last traded in 2016 for $4 million to a group associated with Meriwether Advisors.

Chase Bank and the owners filed for a construction permit last year; the permit was issued last month. The building also goes by the address of 1950 Sixth Ave. It's next to Amazon's Doppler building in an area that has changed tremendously since 1979.

As with banks, McDonald's usually signs very long leases. The end date for its current lease is unknown. The county says the two-story building now has 5,740 square feet, plus basement storage. Ankrom puts the building footprint at just over 3,000 square feet.

No start date for construction or closing date for the restaurant have been announced.

As local land values rise, other fast-food joints are closing. The McDonald's east of Seattle Center will have its lease expire in 2020. Da Li Properties, which is currently building the Koda condominium in the International District, is planning another condo tower on that site at 222 Fifth Ave. N.