Dunn & Hobbes

What Dunn & Hobbes does

Dunn & Hobbes, LLC is a Seattle-based real estate development and property management company founded in 1997 by Liz Dunn. The firm specializes in adaptive reuse of historic buildings and mixed-use urban village development, concentrated almost entirely in the Pike-Pine neighborhood of Capitol Hill, Seattle. Its portfolio includes Chophouse Row (a 1924 auto parts store integrated with new office tower), Melrose Market (sold 2019), Agnes Lofts (28 residential units plus commercial), Piston & Ring, Pacific Supply, Baker Linen, and 1310 East Union Lofts. Underlying technical competency centers on architectural adaptation — salvaged materials, structural modifications combining historic structures with new construction, and sustainable building systems — rather than on software or platform technology.

The company's revenue model is anchored in recurring subscription-style commercial and residential leases, supplemented by three wholly-owned hospitality operations housed in Chophouse Row: The Cloud Room (coworking, lounge, and bar — part of the Global Collective network), Cloud Studios (band practice facility), and Overcast Room (podcast recording studio). Pricing on disclosed units is modest and monthly (e.g., $2,500/month all-inclusive for a 608 RSF office). Go-to-market is direct leasing through the company's website and property management team, with tenant acquisition supported by earned media, event programming (Sunday Funday, Night Markets, Pike Pine Social, Art Walk), and curated destination positioning. Customer segments are local independent restaurants, boutiques, creative professionals, and urban residents — the founder notes more than half of retail and restaurant tenants are women-owned, minority-owned, or both.

Dunn & Hobbes is privately held as a Washington LLC with no institutional or PE backing disclosed. A five-person core team (Principal, Director of Property Management, Property Manager, Facilities Manager, Facilities Assistant) manages 43 commercial tenants and 28 residential units. Notable financial signals include a $13.5 million loan from HomeStreet Bank in 2014 for Chophouse Row's office phase, and multiple awards recognizing design and historic preservation excellence (AIA Seattle 2005, 2008, 2016; ULI Global Awards for Excellence finalist 2016; Historic Seattle 2011). The company's strategic posture is portfolio densification and brand-driven tenant curation within a single Seattle micro-market rather than geographic or vertical expansion.

Name

Dunn & Hobbes

Legal name

Dunn & Hobbes, LLC

Website

https://dunnandhobbes.com

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

11–50 employees

Short description

Dunn & Hobbes is a Seattle-based real estate developer founded in 1997 that specializes in adaptive reuse and mixed-use urban village projects in Capitol Hill's Pike-Pine neighborhood. The company develops, owns, and manages historic commercial, retail, residential, and coworking properties serving independent restaurants, retailers, creatives, and urban residents.

Ownership category

akta.pro rank

Product category

Mixed-Use Commercial Real Estate Development

NAICS

Lessors of Real Estate (5311)

SIC

Real Estate (6500)

akta.pro primary industry

Residential Design-Build & Renovation-Integrated Builders (IMAFABAE)

Keywords

• Mixed-use development
• Adaptive reuse
• Commercial leasing
• Residential leasing
• Urban real estate

Headquarters

HQ city

Seattle

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Commercial Real Estate Leasing: Leasing retail, office, and workspace to commercial tenants in company-owned mixed-use properties. Tenants include restaurants, boutiques, service providers, and creative businesses.
2. Residential Property Leasing: Managing and leasing 28 residential units across portfolio properties including Agnes Lofts.
3. Hospitality Operations (Cloud Room, Cloud Studios, Overcast Room): Company operates affiliated businesses including The Cloud Room (co-working space, culture club, lounge and bar), Cloud Studios (band practice facility), and Overcast Room (podcast recording studio).

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Dunn & Hobbes develops, owns, and manages mixed-use real estate properties in Seattle's Capitol Hill/Pike-Pine neighborhood, specializing in adaptive reuse of older buildings and new urban infill construction. The company directly leases commercial retail/office space and residential units to tenants, and operates affiliated hospitality businesses including a coworking space (The Cloud Room), band practice facility (Cloud Studios), and podcast recording studio (Overcast Room).

Product overview

Dunn & Hobbes is a Seattle-based real estate development company specializing in mixed-use urban village projects. The company operates a portfolio of real estate developments and owned businesses, including: Chophouse Row (mixed-use with creative office, retail, and penthouses), Melrose Market (food hall and retail), Agnes Lofts (residential/commercial lofts), Piston & Ring, Pacific Supply, Baker Linen, and 1310 East Union Lofts. Additionally, the company owns and operates two hospitality/coworking businesses: The Cloud Room (coworking space, culture club, lounge and bar) and Cloud Studios (band practice facility and podcast studio). The company focuses on adaptive reuse of older buildings and new urban infill projects in Capitol Hill's Pike-Pine neighborhood.

Differentiator

Problem solved

Functional benefit

Products and services

• Chophouse Row A mixed-use development in Capitol Hill featuring state-of-the-art creative office space, extensive retail marketplace, and residential penthouses. Combines a historic 1924 auto parts store building with a new office tower featuring open plan workspaces, floor-to-ceiling windows, and exposed steel structure. Home to restaurants, boutiques, service businesses, and creative offices.
• Melrose Market Mixed-use development featuring local food vendors, artisan retailers, and small businesses in Capitol Hill. Sold in 2019 to Liz Dunn and Scott Shapiro.
• Agnes Lofts Mixed-use property featuring 28 loft apartments and commercial space, located at 1433 12th Avenue, Seattle. Offers residential and commercial leasing.
• Piston & Ring Mixed-use development project in the Pike-Pine neighborhood of Capitol Hill, Seattle.
• Pacific Supply Mixed-use development project in Capitol Hill, Seattle, featuring Hill Hardware.
• Baker Linen Mixed-use development project in the Pike-Pine neighborhood. Undergoing addition/expansion as of September 2023.
• 1310 East Union Lofts Modern steel-framed live/work loft condominiums featuring striking transparent design, recognized for architecture awards.
• The Cloud Room Shared workspace, culture club, lounge and bar located in Chophouse Row (4th floor). Offers coworking memberships, meeting rooms, event venues, and bar services. Part of the Global Collective network of boutique workspaces.
• Cloud Studios Band practice facility providing music rehearsal spaces within the Chophouse Row property ecosystem.
• Overcast Room Podcast recording studio providing audio production facilities within the Chophouse Row property ecosystem.

Quantifiable outcome

• 10+ years of successful operation for major projects like Chophouse Row
• +1 more outcomes

Named customers15 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Sundberg Kennedy Ly-Au Young ArchitectscoreStrategic or Co-development PartnerArchitecture firm collaborated on Chophouse Row design, working with historic preservation elements and new construction integration.
• Graham Baba ArchitectscoreStrategic or Co-development PartnerArchitecture firm collaborated on Chophouse Row design project, contributing to the mixed-use development vision.
• MA Wright, LLCminorStrategic or Co-development PartnerEngineering firm provided structural engineering services for Chophouse Row project.
• SHED Architecture & DesignminorStrategic or Co-development PartnerCollaborated on Ghost Cabin art installation within Chophouse Row courtyard, award-winning architectural artwork.
• Cloud RoomcoreStrategic or Co-development PartnerAffiliate company operated by Dunn & Hobbes providing coworking space, lounge, bar, and culture club on fourth floor of Chophouse Row. Core amenity for building tenants.
• Cloud StudioscoreStrategic or Co-development PartnerBand practice facility operated by Dunn & Hobbes, providing music practice spaces within the property ecosystem.
• Overcast RoomminorStrategic or Co-development PartnerPodcast recording studio operated by Dunn & Hobbes, providing audio production facilities within the property ecosystem.

Scale indicators4 records

Recent moves6 records

Expansion highlights3 records

Broad incumbents

• Industrious: Premium flexible-workspace operator with boutique-office positioning comparable to The Cloud Room's coworking/culture-club model. Adjacent comp for the hospitality/coworking leg of Dunn & Hobbes' business.
• Greystar Real Estate Partners: Largest U.S. residential property manager and developer with significant Seattle-area multifamily assets. Comparable for the residential management capability that mirrors Dunn & Hobbes' in-house residential leasing.
• Equity Residential: Major multifamily REIT with a significant urban portfolio including Seattle. Comparable for residential leasing operations in dense urban neighborhoods that overlap with Dunn & Hobbes' residential strategy.
• Vulcan Real Estate: Paul Allen's Seattle-based real estate arm developing mixed-use and commercial properties across the Puget Sound region. While vastly larger in scale, Vulcan shares Dunn & Hobbes' focus on urban mixed-use development in the same Seattle market.
• AvalonBay Communities: Large multifamily REIT operating urban apartment communities on the West Coast including Seattle. Comparable for residential rental operations at scale, though not for the boutique adaptive-reuse delivery model.
• Sabey Corporation: Seattle-area real estate company with a significant mixed-use, multifamily, and commercial property portfolio. Comparable for breadth of real estate operations, though at a much larger scale than Dunn & Hobbes.

Direct peers

• Lake Union Partners: Seattle real estate investment and development firm focused on mixed-use, multifamily, and urban infill projects in Seattle neighborhoods. Comparable boutique developer working in the same Seattle submarkets with similar small-team operating model.
• Wright Runstad & Company: Long-standing Seattle-based commercial real estate developer specializing in mixed-use, office, and mixed-use urban projects in the Puget Sound. Comparable in geographic focus and mixed-use delivery model.
• Pine Street Group: Seattle real estate developer active in the Pike-Pine corridor with experience in mixed-use and historic renovation projects. Directly comparable as a Capitol Hill-focused mixed-use developer pursuing similar urban-village strategies.

Regional players

• Security Properties: Pacific Northwest-based real estate developer and investor with residential and mixed-use holdings in Seattle. Comparable geographic exposure and involvement in urban residential product that overlaps with Agnes Lofts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/chophouserow
• LinkedInlinkedin.com/in/liz-dunn-4771649
• Instagraminstagram.com/chophouserow

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dunn & Hobbes