Key Deal Points 4714 22nd Ave NE, Seattle 12-unit Sale Price $3.4M Closed within 34 days Represented 1031 Buyer The team at Lee & Associates helped me confidently navigate the sale of my building, an exchange into a new property, and all the stages and deadlines in between. I look forward to with them again. – Ann For more information regarding this case study, please contact: Candice Chevaillier, CCIM Principal D (206) 773-2694 [email protected]…
Q1 2024 Multifamily Market Report
Q1 2024 sees a measurable 14% increase in the absorption as new construction stock continues lease up. Both rents and vacancy rates remained steady over the period. It is interesting to note current rents are equivalent to Q1 2023, one year ago. We do not expect significant rent growth for the remainder of the year as the market continues to absorb newly delivered units. Strong Q1 absorption numbers in a traditionally slow winter market indicate…
Q1 2024 Office Market Report
Seattle’s office market is showing signs of life. It has yet to materially impact vacancy, but leasing activity is picking up. Pokémon signed a lease for 16 floors in The Eight, an under-construction tower in the Bellevue CBD. This is the largest lease in the market in three years, and the largest in Skanska’s history. There were three office sales this quarter that exceeded $30 million, all of which were larger than any in 2023….
Q1 2024 Industrial Market Report
After a fairly rough end to 2023 Q1 continues to present problems for the general market recovery that was anticipated to begin in 2024. We have continued to see the contraction of companies that grew during Covid as well as deliveries of new construction. Combined, the overall vacancy rates climbed nearly 3% year over year. There is a silver lining in that we continue to see rents increase overall with some increased concessions, but general…
Case Study – Queen Anne 11-Unit with View and Penthouse
Key Deal Points Hillside House, 15 Ward St, Seattle Seller Financing Terms: 3 yr, 30% Down Payment 11-unit with View and Penthouse Sale Price $3.05M 94% Cap Rate at closing Represented Seller & Buyer Candice, Dea and Chris exceeded my expectations in their competence, professionalism, integrity and aggressive marketing strategy. I did not expect to get my building’s value due to Seattle’s pro-crime, anti- landlord political climate. But thanks to Candice’s team and contacts,…
Case Study – Capitol Hill 8-Unit with View
Key Deal Points 317 Thomas St, Seattle 8-unit with View Sale Price $2.4M Represented Seller For more information regarding this case study, please contact: Candice Chevaillier, CCIM Principal D (206) 773-2694 [email protected] Daniel Lim Vice President D (206) 773-2692 [email protected] Dea Sumantri Associate Vice President D (206) 773-2680 [email protected] Chris Larsen Associate D (206) 773-2695 [email protected] Challenge After over two decades, our clients made the strategic decision to exchange the subject property…
Case Study – Ballard 5-Unit
Key Deal Points 1541 NW 52nd St, Seattle Seller Financing Terms: 5% Interest 3-yr IO, 25% down 5-unit with all two-bedrooms Sale Price $1.875M 08% Cap Rate Represented Seller I highly recommend Candice Chevaillier, CCIM and her team, at Lee & Associates. They are professional as well as extremely knowledgeable of the current trends, and with experience. With very creative thinking, they were able to create a plan to help sell our building at the…
Another Major Tenant In Downtown Tacoma: New Key Office Sublease At 1498 Pacific Avenue
November 14, 2023 – Tacoma, WA – Lee & Associates is pleased to announce the successful facilitation of a 19,908 square foot office space sublease at 1498 Pacific Avenue, Tacoma. Harrison Laird and John Bauder, representing Sound Physicians, have effectively brokered this sublease to Milgard Manufacturing. The lease is scheduled to begin on February 1, 2024. 1498 Pacific, a Class A office building located in the heart of downtown Tacoma, was recently acquired by private…
2023 SIOR Investment Broker of the Year: Jim Reed
Congratulations to Jim Reed for an incredible achievement! In a back-to-back win, he has been awarded the SIOR Investment Broker of the Year for the second year in a row at NAIOP’s annual Night of the Stars! Here’s to continued success and recognition for your dedication, expertise, and hard work! MEDIA CONTACT Jim Bowles, SIOR Lee & Associates (206) 773-2673 [email protected]
Q3 2023 Pacific Northwest Market Reports
NEW FROM THE MEDIA CENTER… Read Products Interbay Priced at $14MM as 73,000 SQFT Seattle Industrial Site Courts Owner-Users and Developers Q3 2026 Retail Market Report Q3 2026 Office Market Report Q3 2026 Multifamily Market Report