October 24, 2022 (Bellevue, WA) – Lee & Associates Commercial Real Estate Services is pleased to have brokered four new leases totaling over 17,000 SF at the Tacoma Rhodes Center. The newest tenants to the building, Maxim Healthcare Services, Mindful Support Services, ES Technologies, and CU Strategic Planning will all occupy the building immediately following their respective buildouts. Eight new tenants have signed leases at Tacoma Rhodes Center in 2022 alone, accounting for over 42,000…
Capitol Hill 4-Building Portfolio Sells for $16.8M
October 18, 2022 (Seattle, WA) – Lee & Associates Commercial Real Estate Services is pleased to have brokered the sale of a 4-building portfolio located in the Capitol Hill neighborhood of Seattle, Washington to 206 Property Management on behalf of their client, The Weisenbach Properties. The Thomas Park Portfolio, located within the desirable Capitol Hill Summit Ave corridor and just next to Thomas Park, sold for $16,800,000. Meticulously well-cared for over the past 46 years,…
Case Study – Thomas Park Portfolio
Key Deal Points Four-building Portfolio in Capitol Hill 231 & 301 Summit Ave E and 411-419 E Thomas St, Seattle, WA 98102 Sale Price: $16,800,000 Strong Current Cap Rate: 3.88% Price per Square Foot: $433 Candice, Daniel, Dea, and Chris are incredibly responsive and knowledgeable throughout the entire acquisition process. We had a complicated purchase with a few bumps along the way, but Candice and her team were quick, communicative, and creative in coming…
Case Study – 24-Units with Sweeping View in Queen Anne
Key Deal Points 2442 8th Ave N, Seattle 24-Unit Apartment with Views of Lake Union Sale Price $8M Current Cap Rate 3.66% Represented Seller & Buyer We had a very good experience working with the Lee & Associates Multifamily Team. They offered us consistent communication throughout the marketing process and always kept us informed as we moved through to a successful close. They worked closely with our property management team and did not require…
Case Study – 7 Units in Wallingford
Key Deal Points 3832 Eastern Ave N, Seattle, WA 98103 $1,650,000 $453 / SF Highly desirable North Lake Union Wallingford location Buyer achieved 15% improvement on gross rents within 3 months of acquisition Daniel and the Lee Multifamily Team were instrumental in navigating us through the acquisition process when multiple issues including the determination of two non-conforming units could have prevented us from successfully establishing our portfolio in Seattle. – Song For more information…
Case Study – Fountain Court Apartments
Key Deal Points 3825 & 3831 34th Ave W, Seattle 18 Units Sale Price: $5,800,000 Strong Sale Metrics: 4.58% cap rate Price Per Unit: $322,222 Price Per Square Foot: $438 Candice and her team represented me fabulously in the sale of Fountain Court. Her personal attention and diligence demonstrated a genuine care that resulted in a great outcome. Even after closing, Candice continued to check in to make sure I found a suitable replacement…
WEST RIDGE APARTMENTS IN SOUTH EVERETT SELLS FOR $12MM
SOLD FOR THE FIRST TIME SINCE DEVELOPMENT IN 2000 August 8, 2022 (Seattle, WA) – Lee & Associates Commercial Real Estate Services is pleased to announce the disposition of West Ridge Apartments located in Everett, Washington to a private investor, on behalf of their client 7 Lakes Development. The West Ridge Apartments, located just off I-5 and 128th Street SW in Everett, sold for $12,000,000 cash. The 36-unit market-rate multifamily asset is situated on 1.64…
Case Study – 7 Units in Queen Anne
Key Deal Points 822 3rd Ave N Seattle, WA 98109 7 Unit Sale Price $1,905,000 – $10,000 over list Cap Rate 1.35% Three offers, two with no contingencies Closed in 84 days Working with Lee & Associates Multifamily Team was a great experience. Candice and the rest of the team made the process clear and orderly. They were very thorough from the initial information gathering for the property, what market rates were, comparisons of…
MAJOR SALE IN FREMONT | FREMONT COURT
July 26, 2022 (Seattle, WA) – Lee & Associates Commercial Real Estate Services is pleased to announce that Fremont Court, a 35 unit mixed use building in Fremont sold Monday for $17,415,000. The building is located at 3414-3424 Fremont Avenue N & 705-711 N 35th St, Seattle, WA 98103, and is a collection of 17 residential units and 18 commercial units, making it a true mixed-use building. The transaction was brokered by the Lee &…
Case Study – Fremont Court
Key Deal Points Fremont Court True Mixed-Use building with 17 apartments, office, retail and restaurant Quarter Block in Fremont Sale Price: $17,415,000 Loan Assumption We’re very grateful for all the thoughtful hard work and diligence of Candice Chevaillier and everyone on her team at Lee & Associates marketing the Fremont Court property. We wouldn’t hesitate to engage them again. – Brian Equinox Properties For more information regarding this case study, please contact: Candice Chevaillier,…