October 25, 2021 (SEATTLE, WA) – Lee & Associates Commercial Real Estate Services is pleased to have brokered the 1.11-acre disposition of a former restaurant location in Lynnwood to Koz Development, on behalf of their client DRK MC2 LLC.

The 4301 Alderwood site, located just a short walk from the planned Lynnwood City Center Station, transacted at $5,500,000. Formerly occupied by Buca di Beppo, the site is zoned City Center – Core (CC-C), which allows for a potential commercial or residential development of up to 350’ in height. In addition to the excellent transit accessibility, this site benefits from its close proximity to several high-impact development projects. Snohomish-based Koz Development, a familiar transit-oriented developer in the area, expressed plans to develop a midrise apartment building with ground-level retail.

“Investor interest in transit-oriented development sites in the region is at an all-time high. As the Lynnwood area continues to transform, we’re excited to see the completed project at 4301 Alderwood,” noted Alex Muir, Vice President, Capital Markets.

The Lee & Associates Capital Markets team of Alex Muir, Stuart Williams, Adrienne Hunter and Elizabeth Schalka facilitated the transaction.