BELLEVUE—Hillside Off Main, a two-parcel multifamily development opportunity in the heart of Downtown Bellevue, is now on the market. Located at 119 107th Ave SE, the combined site spans 23,100 square feet and is zoned R-30, offering a chance to invest in one of the region’s most land-constrained urban cores. The property includes an eight-unit apartment building originally constructed in 1954, totaling 6,036 gross square feet (5,276 net square feet). Lee & Associates, which is…
South Sound Industrial Market Navigates Rising Costs, Trade Shifts, and Evolving Tenant Demand
SOUTH SOUND—The South Sound industrial real estate market is entering a period of transition, shaped by evolving economic conditions, shifting tenant preferences, and the return of trade policies that could have far-reaching consequences. Certain sectors—particularly manufacturing related to energy projects—are beginning to see renewed activity although vacancies are increasing, according to an analysis by Lee & Associates market analysis provided by Vanessa Herzog and Justin Froelich. Overall, the South Sound market is displaying subtle but…
Seattle Multifamily Investment Poised for Growth Amid Market Adjustments
SEATTLE—The Seattle multifamily housing market is navigating a period of transition, with key indicators pointing toward evolving investment strategies and steady demand shifts. According to the Lee & Associates Multifamily Investment Review, median rents across the Seattle-Tacoma-Bellevue Metropolitan Statistical Area (MSA) grew by 1.8 percent year-over-year in 2024, outpacing the national average increase of one percent. This growth, despite macroeconomic challenges, underscores the region’s persistent housing demand. Market fluctuations have impacted pricing trends across different…
Seattle Office Development Land Sale Case Study: 35 Stone
Office Land OVERVIEW 35 STONE | 3524 Stone Way 3524 Stone Way North, Seattle, WA Land / Office Development 34,163 SF / 0.78 AC Seller Representation Sale Price: $17,500,000 “While we have sold many assets, we have never had a team drive pricing as much as the Lee Team did on this process.” – Jim Rivard Managing Partner, SRM THE CHALLENGE Ownership was contemplating selling or completing a Joint Venture for their permitted Living Green…
$10.6M Seattle Value-Add Office Sale Case Study: 4th & Union
OVERVIEW 4th & Union | 1404 4th Avenue 1404 4th Ave, Seattle, WA 21,713 SF Value-Add Office 6,105 SF / 0.14 AC Seller Representation Sale Price: $10,600,000 THE OUTCOME Listed: November 22, 2019 Competing Offers: 4 Offers Under Contract: January 4, 2022 Closed: July 15, 2022 (place image here) THE CHALLENGE Fourth & Union is a 21,713-square-foot historically landmarked building that features three floors of office space atop ground-level retail. The building had not been…
Case Study – Tumwater Corporate Center
OVERVIEW Tumwater Corporate Center Building 1 2422 93rd Ave SW, Tumwater, WA Industrial / Distribution Facility ± 149,340 SF Total ± 3,000 SF Office Landlord: Crow Holdings Tenant: Daedong USA Lease Rate: $0.86 PSF Shell $1.55 PSF Office Add-on, plus NNN ABOUT THE CLIENT Daedong-USA, Inc., distributes Kioti tractors and equipment, part of Daedong Corporation’s 70+ year legacy in innovative agricultural solutions. With an expanding portfolio of autonomous and AI-driven technologies, Daedong-USA serves customers globally…
Case Study – 1510 & 1616 St. Paul Ave
OVERVIEW 1510 & 1616 St. Paul Ave, Tacoma, WA Industrial Warehouse ± 138,788 SF Total Buyer Representation Sale Price: $19,510,000 ($141 PSF) THE CHALLENGE Lee & Associates successfully represented SMARTCAP in their first Southend industrial acquisition—a 138,788-square-foot warehouse in a highly competitive market. This property, located in an A+ core infill area in the Port of Tacoma, offered immediate access to the port, Interstate 5, and rail. Multiple offers were submitted due to the property’s…
Case Study – Mt Baker Apartments
Key Deal Points 1501 & 1505 31st Ave S 5 Units Sale Price: $1.7M Brought Multiple Offers in a Stagnant Market Replacement Buyer Sourced within 48 hours For more information regarding this case study, please contact: Candice Chevaillier, CCIM Principal D (206) 773-2694 [email protected] Dea Sumantri Vice President D (206) 773-2680 [email protected] Daniel Lim Senior Vice President D (206) 773-2692 [email protected] Challenge Long-time owners of a well-maintained property in Mt. Baker were…
LEE & ASSOCIATES | PACIFIC NORTHWEST EXPANDS MULTIFAMILY TEAM WITH SARA ENSLOW BAGO, MSRE
December 12, 2024 (Bellevue, WA) – Lee & Associates, the largest broker-owner commercial real estate firm in North America, proudly announces the addition of Sara Enslow Bago, MSRE, to its Multifamily Team. This strategic expansion underscores the company’s commitment to providing innovative investment sales solutions. With over 15 years of experience in commercial real estate and finance, Sara brings a wealth of expertise from local and multinational real estate lending institutions. A Puget Sound native,…
NAIOP Night of the Stars Award Finalist 2024
At Lee & Associates | Pacific Northwest, we are thrilled to celebrate the exceptional accomplishments of Candice Chevaillier, who was honored as a finalist at the 2024 NAIOP Night of the Stars Gala. These prestigious awards recognize the dedication, expertise, and extraordinary contributions of professionals shaping the commercial real estate industry. Candice Chevaillier, CCIM Candice Chevaillier has earned a finalist spot in the Multifamily Broker of the Year category. Her deep knowledge of the…