Henbart
Henbart LLC is a Seattle-based, family-held real estate developer that acquires, owns, and manages LEED-certified mixed-use and retail properties across the Pacific Northwest, with a long-term-hold investment philosophy dating to 1922.
- Company typePrivate
- Founded1922
- HeadquartersSeattle, United States
- Headcount1–10
- GTM typeB2B and B2C
- OfferingServices
What Henbart does
Henbart LLC is a Seattle-based real estate company that develops, owns, and manages commercial and residential properties across the Pacific Northwest. Founded in 1922 and headquartered at 2731 77th Avenue SE in Mercer Island, WA, the company operates a long-term-hold investment model focused on acquiring and developing mixed-use and retail properties in the greater Seattle metropolitan area, including Kirkland, Edmonds, Ballard, Magnolia, and West Seattle. The portfolio spans LEED-certified mixed-use developments (The Commons at Ballard at LEED Platinum, Parque Kirkland at LEED Gold, The Village at Westgate seeking LEED Silver), multi-tenant retail centers (Westgate Village, Magnolia Village Center, Admiral Junction), and stand-alone retail assets (Edmonds CVS, 1700 and 1750 132nd Avenue).
The company's underlying technology is centered on sustainable mixed-use design and integrated building systems rather than proprietary software. Notable technical features include the first deployment of electrochromic glazing on all exterior windows of a mixed-use project at Parque Kirkland, a smartphone-controlled automated stacked parking system (155 stalls, by CityLift), View smart windows with rooftop Immersive Displays that double as HD televisions, and Latch keyless smart locks. Construction is executed via established regional partners, with W.G. Clark Construction as general contractor and Graphite Design Group as architect on multiple signature projects; residential property management is outsourced to firms such as Blanton Turner and Aspire Properties Northwest.
Henbart's revenue model combines one-time property development and sales economics with recurring streams from residential and commercial/retail leasing. Residential rents range from approximately $1,330 to $5,795 per month across portfolio units, with income-restricted units at The Village at Westgate reserved for residents earning 80% to 115% of area median income under Edmonds' multifamily tax exemption program. Commercial tenants include Bartell Drugs (primary retail anchor at Parque Kirkland, ~17,613 sq ft), CVS Pharmacy (Edmonds), AddLife, and SMBs such as 5 Stones Coffee Co. and Arleana's Seafood and Soul. Go-to-market is sales-led and relationship-driven, with customer acquisition occurring primarily through direct inquiry, website contact forms, and earned media in industry publications such as the Daily Journal of Commerce and The Registry. The company currently operates with 1-10 employees and does not disclose revenue.
Henbart firmographics
Firmographics- Name
- Henbart
- Legal name
- Henbart, LLC
- Website
- https://henbart.com
- Company type
- Private
- Founded year
- 1922
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Henbart LLC is a Seattle-based, family-held real estate developer that acquires, owns, and manages LEED-certified mixed-use and retail properties across the Pacific Northwest, with a long-term-hold investment philosophy dating to 1922.
- Ownership category
- akta.pro rank
Henbart industry classification
Industry- Product category
- Real Estate Development
- NAICS
- Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Services to Buildings and Dwellings (5617)
- SIC
- Operators Of Nonresidential Buildings (6512), Land Subdividers & Developers (No Cemeteries) (6552), Services-To Dwellings & Other Buildings (7340)
- akta.pro primary industry
- Mixed-Use Property Management (BPAJAGAE)
Keywords
Where Henbart is headquartered
LocationHeadquarters
- HQ city
- Seattle
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Henbart business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D
Revenue model
- Property Development and Sales: Acquires, develops, and constructs mixed-use, retail, and residential properties in the Pacific Northwest, with a long-term hold investment philosophy
- Commercial and Retail Leasing: Leases retail and commercial spaces to tenants including Bartell Drugs, 5 Stones Coffee Co., Arleana's Seafood and Soul, and others across their property portfolio
- Residential Leasing: Leases residential units in mixed-use developments such as Parque Kirkland (70 units) and The Village at Westgate (91 units), with rents ranging from approximately $1,330 to $5,795 per month
- Asset Management Services: Provides hands-on property management and asset management services for owned properties, with quality tenant services as a hallmark of their operations
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Residential units at The Village at Westgate range from $1,330 to $2,250 per month |
| Subscription | Monthly | Residential units at Parque Kirkland range from approximately $2,395 to $5,795 per month |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels3 records
Henbart product offering
Product offeringCore offering
Henbart is a Seattle-based real estate company that develops, owns, and manages commercial and residential properties in the Pacific Northwest. The company acquires sites, builds mixed-use developments that combine residential, retail, and commercial spaces, holds assets long-term, and provides hands-on property and asset management across its portfolio. Its portfolio includes LEED-certified mixed-use projects (The Commons at Ballard, Parque Kirkland, The Village at Westgate), retail centers (Westgate Village, Admiral Junction, Magnolia Village Center), and standalone commercial buildings.
Product overview
Henbart is a Seattle-based real estate company that develops, owns, and manages commercial and residential properties in the Pacific Northwest. The company operates a portfolio of retail properties (stand-alone CVS Pharmacy, multi-tenant retail centers like Westgate Village, Magnolia Village Center, Admiral Junction, and 130th Avenue buildings) and mixed-use developments (The Commons at Ballard, Parque Kirkland, and The Village at Westgate). The portfolio includes both long-term held assets and new development projects, with a focus on sustainable development including LEED-certified buildings.
Differentiator
Problem solved
Functional benefit
Products and services
- The Commons at Ballard Mixed-use development in Ballard, Seattle combining residential, office, and retail spaces. Achieved LEED Platinum certification, the highest level under the U.S. Green Building Council, and currently undergoing office-to-residential conversion initiatives.
- Parque Kirkland High-end four-story mixed-use project at 312 Central Way in Kirkland, WA, comprising 70 luxury apartments, 17,613 sq ft of retail/commercial space anchored by Bartell Drugs, and a 155-stall automated parking system. Features electrochromic smart glazing, Latch keyless entry, and LEED Gold certification.
- The Village at Westgate Four-story mixed-use development at 10032 Edmonds Way in Edmonds, WA, with 91 residential units, 3,100 sq ft of ground-floor retail, and outdoor amenity space. Seeking LEED Silver certification with green roof, EV charging, and bike room.
- Westgate Village 21,115 sq ft multi-tenant retail center in Edmonds, WA at the intersection of Edmonds Way and 100th Ave, acquired in 2016 and anchored by CVS Pharmacy.
- Edmonds CVS Pharmacy Stand-alone retail property in Edmonds, WA, consisting of a 15,032 sq ft building leased to CVS Pharmacy.
- Admiral Junction 15,277 sq ft retail center in West Seattle's Admiral District, acquired by Henbart in 2024.
- Magnolia Village Center 24,571 sq ft two-building multi-tenant retail center in Seattle's Magnolia neighborhood at 32nd Avenue W. and W. McGraw Street, anchored by retail coming in 2026.
- 1700 132nd Avenue 12,000 sq ft commercial building acquired in 2018, located a half-block from the Bel-Red/130th Station of Sound Transit East Link.
- 1750 132nd Avenue 10,000 sq ft commercial building acquired in 2018, located a half-block from the Bel-Red/130th Station of Sound Transit East Link and currently occupied by AddLife plant service.
Quantifiable outcome
- The Commons at Ballard achieved LEED Platinum certification - the highest level under U.S. Green Building Council
- +4 more outcomes
Companies that use Henbart
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles3 records
Henbart technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Henbart partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- Blanton TurnercoreProperty management company for The Commons at Ballard. Handles day-to-day property management operations.
- Dillon WorksminorDesigned the unique grotto and wine bar area at Parque Kirkland - a special amenity in the parking garage with entertaining space.
- W.G. Clark ConstructioncoreGeneral contractor for Parque Kirkland project. Also built The Village at Westgate and Parque Kirkland. W.G. Clark Construction Co. is a significant partner executing construction on major Henbart developments.
- Graphite Design GroupcoreArchitect and interior designer for Parque Kirkland. Responsible for the unique design including the four-story central staircase connecting street to rooftop terrace. Also designed The Commons at Ballard.
- Studio Meng StrazzaraminorArchitect for The Village at Westgate project - a four-story, 91-unit luxury apartment building in Edmonds.
- Aspire Properties NorthwestcoreResidential leasing agent for The Village at Westgate, handling inquiries and leasing for the 91-unit apartment building.
- First Western PropertiescoreProperty management company for Westgate Village retail center. Handles management of the 21,115 sq ft retail property anchored by CVS.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Henbart competitors and assessment
Company assessmentBroad incumbents
- AvalonBay Communities: Large-cap multifamily REIT with significant Seattle-metro exposure and urban high-rise and mixed-use product. Comparable for institutional rent benchmarks, NOI growth, and ESG-focused development practices.
- Equity Residential: Urban-focused multifamily REIT with a Seattle portfolio. Comparable as a public-market proxy for urban luxury apartment fundamentals and as a benchmark for institutional buyer appetite for stabilized Seattle multifamily assets.
- Essex Property Trust: West Coast multifamily REIT concentrated in Seattle, San Francisco, and Los Angeles. Broad incumbent comparable for Pacific Northwest multifamily fundamentals, rent levels, and cap-rate benchmarks relevant to Henbart's residential units.
Direct peers
- Wright Runstad & Company: Seattle-based developer of mixed-use office, multifamily, and retail with a long-term hold and own/operate model. Closely mirrors Henbart's combined developer/owner/operator approach in the PNW.
- Vulcan Real Estate: Paul Allen's Seattle-based real estate arm and the dominant mixed-use developer in the Puget Sound region. Most directly comparable peer given shared geography, mixed-use focus, and long-term hold philosophy across commercial and residential product.
- Schnitzer West: Seattle-based mixed-use and multifamily developer operating across the Puget Sound. Comparable in scale and product type (urban mixed-use, multifamily, retail) with similar attention to design quality and placemaking.
- Gerding Edlen: Pacific Northwest-rooted sustainable mixed-use developer with strong LEED and ESG track record. Comparable for green-building-led mixed-use product and innovation-driven design.
Emerging players
- Carmel Partners: Multifamily developer with PNW activity that operates an own-and-manage model combined with institutional capital. Comparable for the long-term hold, value-add, and urban infill mixed-use strategy at similar scale.
Regional players
- Pine Street Group: Seattle-focused real estate investor and developer active in mixed-use and office-to-residential conversion opportunities. Relevant peer for the PNW urban mixed-use niche and the office conversion thesis relevant to Henbart's Commons at Ballard.
- Goodman Real Estate: Seattle-based retail and mixed-use property manager and developer. Comparable for PNW retail center management (Westgate Village, Magnolia Village Center, Edmonds CVS analogue), and a third-party management peer given Henbart's hands-on operating model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Henbart social profiles
Digital presenceHenbart compliance and trust
Trust signalCompliance3 records
Henbart financial estimates
Financial estimateRevenue estimate
Valuation estimate
Henbart leadership team
Management profileNumber of profiles
Profiles1 record
Henbart funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Henbart M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Henbart
What does Henbart do?
Henbart is a Seattle-based real estate company that develops, owns, and manages commercial and residential properties in the Pacific Northwest. The company acquires sites, builds mixed-use developments that combine residential, retail, and commercial spaces, holds assets long-term, and provides hands-on property and asset management across its portfolio. Its portfolio includes LEED-certified mixed-use projects (The Commons at Ballard, Parque Kirkland, The Village at Westgate), retail centers (Westgate Village, Admiral Junction, Magnolia Village Center), and standalone commercial buildings.
Is Henbart a public or private company?
Henbart is a private company. It is classified as family owned and is currently operating.
When was Henbart founded?
Henbart was founded in 1922. It employs 1 to 10 people.
Where is Henbart based?
Henbart is headquartered in Seattle, United States, in the North America region.
How does Henbart make money?
Four revenue lines are on record. Property Development and Sales are the primary driver. The others are commercial and Retail Leasing, residential Leasing and asset Management Services.
Who are Henbart's main competitors?
Broad incumbents on record are AvalonBay Communities, Equity Residential and Essex Property Trust. Direct peers are Wright Runstad & Company, Vulcan Real Estate, Schnitzer West and Gerding Edlen. Carmel Partners is listed as an emerging player. Regional players are Pine Street Group and Goodman Real Estate.
Does Henbart have an API?
No public API is recorded for Henbart.
What industry is Henbart in?
Henbart's product category is Real Estate Development. Its primary akta.pro industry code is BPAJAGAE, Mixed-Use Property Management. Its NAICS code is 531120 and its SIC code is 6512.