February 15, 2022 (TACOMA, WA) – Northwestern Mutual Life Insurance Co. has signed a 15,000-square-foot lease for office space in Tacoma’s tallest tower. The 25-story 1201 Pacific building, previously called Wells Fargo Plaza, is owned by Seattle-based Unico Properties. The 1970 tower has 327,000 square feet, including more than 27,000 square feet currently available for rent, in addition to the space taken by Northwestern Mutual…There was no office space in all of Pierce County currently under…
LEE & ASSOCIATES WELCOMES CHRIS REID, 30-YEAR REAL ESTATE VETERAN
February 16, 2022 (Seattle, WA) – Lee & Associates Commercial Real Estate Services, is pleased to announce the addition of Chris Reid to its Bellevue office. “With over 30 years of commercial real estate brokerage experience in the Puget Sound region, Chris has distinguished himself as one of the most consistent and knowledgeable commercial brokerage professionals in the area” commented Jim Bowles, President of Lee & Associates | Pacific Northwest. Chris has been involved in…
Case Study – 11 Units in Leschi
Key Deal Points 201 30th Ave S, Seattle Renovated 11-Unit with water views Competitive multiple offer situation Current Cap Rate at 4.6% Mutual Acceptance to Close in 47 Days I’m a seasoned real estate investor but do not know Seattle and needed someone to explain the neighborhoods and show me the inventory based on my needs. I was lucky enough to meet Dea who is a Seattle area expert and great at listening to…
Case Study – Maywood 10 Units in Queen Anne
Key Deal Points 1321 4th Ave W, Seattle Charming Queen Anne style 10-Unit 6 Offers Non-Contingent Offer Sold at $100k over list In handling the successful sale of our building, Candice and her team helped us through all the intricate steps with expert advice and attention to detail. Selling an apartment building is far more challenging than selling residential real estate! – Rob & Beth, Clients For more information regarding this case study, please…
Fremont sale clears way Evolution Projects’ full-block master plan
December 13, 2021 (SEATTLE, WA) – A development site north of action sports retailer Evo’s Seattle flagship has been sold for $14.5 million to development company Evolution Projects, which Evo founder Bryce Phillips operates. A partnership of two regional companies, SRM Development and Schwartz, sold the nearly three-quarters of an acre property (3524 Stone Way N.) where they were planning an ultra-green five-story mixed-use office project called 35 Stone. Earlier this year they listed the property with Lee…
Case Study – Fremont 6 Unit
Key Deal Points 3912 Linden Ave N, Seattle 6 units Sale Price: $1,800,000 Non-Contingent Offer Closed in 50 days as part of a 1031 exchange. Candice, Daniel & Dea’s services from start to finish were excellent. Communications with the team were clear and timely. As we neared closing, the team did everything to ensure a successful conclusion. I would highly recommend you. – The Maxwell’s For more information regarding this case study, please contact:…
Seattle-area warehouse demand keeps pace with ‘massive output’
November 09, 2021 (SEATTLE, WA) – The Puget Sound-area industrial vacancy rate fell to 4.6% in the third quarter from 5.4% a year ago, according to a report by Lee & Associates. That is still higher than the national average, the report said, but a sign of strength for the local market due to “massive output” from developers, with nearly 10.2 million square feet under construction in Q3. That’s more than double the space that was…
Seattle’s Fremont Court Asset Hits the Market with $18MM Pricing
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…