October 26, 2021 (SEATTLE, WA) – Seattle-based developer Brian Regan has placed on the market for sale the mixed-use project known as Fremont Court in the Fremont neighborhood of Seattle. This is the first time in 22 years that the property is offered to the market. The asking price on the sale of the property is $18 million, according to sources aware that the property is up for sale. The current owner of the complex…
LYNNWOOD TOD SITE SOLD TO MULTIFAMILY DEVELOPER
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…
Case Study – Wallingford Part Apartments
Key Deal Points 3801 Wallingford Ave N, Seattle 7 Units 3 Non-Contingent Offers Sold at $30K Over List All Cash Buyer, Non-Contingent Offer On Market to Closed in 47 Days After a second successful apartment building sale, we continue to be pleased with the Lee & Associate’s team of Candice, Daniel and Dea. They lead us through the financial analysis, marketing, and escrow phases of the sale. We received several quality offers. They helped us…
Case Study – Elliott View Apartments 8 Units
Key Deal Points 909 4th Ave N, Seattle – Elliott View 8 Units Competitive offer scenario in an uncertain market Sale Price: $2,400,000 Cap Rate: 4.05% / Price per SQFT: $492 “I selected the Lee & Associates Multifamily Team knowing their strong experience with Queen Anne sales, and also Candice’s hard work with the RHA owner’s organization. The team handled marketing in the time of COVID was handled with sensitivity and patience. Daniel’s weekly marketing…
Prime downtown corner back on market, but now with landmarking restrictions
June 22, 2021 (SEATTLE, WA) – Most call it the Bergman Luggage building, though that business closed during the pandemic. The landmarked two-story building at 1901 3rd Ave., on the corner of Stewart Street, had been poised for sale back in 2018. At the time, Continental Properties had an agreement to buy the property from longtime owner Brooke Barnes. Continental and architect Perkins&Will did file an early 43-story apartment plan, but it never entered design review….
Case Study – Queen Anne 7 Unit
Key Deal Points 1938 11th Ave W, Seattle Classic 7 Unit with sweeping views Competitive multiple offer situation Negotiated pricing $200K Under List Current cap rate was over 5% Mutual Acceptance to Close in 47 Days “The Lee & Associates team led by Candice Chevaillier assisted us to a great extent in achieving our investment goal with this purchase. Their attention to detail and ability to discern our needs was remarkable. We have purchased many…
VANESSA HERZOG ELECTED TO SIOR BOARD OF DIRECTORS
To Serve Two-Year Term on SIOR’s Board of Directors as Member-at-Large April 28, 2021 (Seattle, WA) SIOR recently elected its 2021-2022 officers during its spring event, TransACT 360, which was held virtually this year due to the global pandemic. The elected officers will be installed in Nashville, Tenn. prior to CREate 360, SIOR’s fall event, that is currently scheduled to be held in-person October 14-16, 2021. This fall, SIOR’s current president-elect, Patrick Sentner, SIOR, an office specialist in…
Case Study – Island Lanai Apartments on Mercer Island
Key Deal Points 2820 75th Pl S, Mercer Island 9 Units with Penthouse suite. 13 Offers Sold at $400K Over List All Cash Buyer, Non-Contingent Offer On Market to Close in 51 Days “Candice, Daniel, and Dea of Lee & Associates are dedicated, knowledgeable and hard-working professionals. They developed an excellent marketing strategy and process that lead to multiple high quality offers. We were incredibly pleased with the sales results. They initially explained the selling…
Vanessa Herzog Discusses the Industrial Market with Seattle Business Magazine
E-commerce Drives Industrial Market Strength Industrial space is in high demand March 30, 2021 (Seattle, WA) Amazon and other retailers are going the last mile in the Covid-19 economy, and that’s delivering to Seattle-area industrial and warehouse investors. “Toward the end of April, e-commerce just took off. It has absolutely just gone bananas. A tremendous amount of unprecedented growth,” says Vanessa Herzog, principal at Lee & Associates of Seattle and a member of the Society of…
Candice Chevaillier Discusses Potential Post-Pandemic Multifamily Market – The Registry
Report: Systemic Changes to Seattle Multifamily Market Post-Pandemic Will be Few February 19, 2021 (Seattle, WA) 2020 saw Seattle investors and commercial real estate experts put the brakes on activity, as predicting how the market would evolve seemed like an insurmountable task. Movement in the market remained limited while speculation around emerging trends such as the impact of work from home and the popularity of suburban assets continued to swirl. However, a recent report…