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. For more information regarding this case study, please contact: Candice Chevaillier, CCIM Principal D (206) 773-2694 cchevaillier@lee-associates.com Daniel Lim Vice President D (206) 773-2692 dlim@lee-associates.com Dea Sumantri Associate Vice President D (206) 773-2680 dsumantri@lee-associates.com Chris Larsen Associate D (206) 773-2695 clarsen@lee-associates.com Challenge A successful local townhome developer…
Case Study – Masin Block
OVERVIEW MASIN BLOCK | 220-240 2nd Ave S 220-240 2nd Ave S, Seattle, WA Value-Add Office 80,160 SF Seller Representation Sale Price: $24,100,000 THE OUTCOME Listed: January 25, 2021 Competing Offers: 4 Offers Under Contract: May 15, 2021 Closed: July 27, 2021 THE CHALLENGE Our team represented ownership when they bought both the Pacific Commercial and Masin Buildings from two different groups. Dueto a change in strategy, ownership decided to sell the combined buildings….
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…
Case Study – 1938 11th Avenue W | 7 Units
Key Deal Points 1938 11th Avenue W, Seattle, WA 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…
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 – Island Lanai Apartments
Key Deal Points 2820 75th Place S, Mercer Island, WA 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…
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…
LEE & ASSOCIATES REPRESENTS ELION IN $47.5M ACQUISITION
April 28, 2021 (Seattle, WA) – Lee & Associates, the largest broker owned commercial real estate firm in the U.S., is pleased to announce their client’s, Elion Partners (“Elion”), acquisition of 223,656 SF on Monster Road in Renton, Washington. This acquisition marks Elion’s third in a series of transactions in the Puget Sound region in just under six months. Elion is a minority-owned, vertically integrated private equity real estate investment firm focused on first, middle…
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…