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…
Industrial developers look south for more land
October 11, 2022 – Thanks to the region’s Seattle and Tacoma ports, the Puget Sound industrial market is one of the hottest in the country with lease rates that regularly rank among the most expensive. For example, in August lease rates at regional industrial properties were $9.14 per square foot, which is up 5.8% year-over-year and is the fourth highest in the country. The rates are even in higher in Seattle proper, where prices range from…
Downtown Fremont Office/Lab Building Sold to Owner-User
September 29, 2022 (Seattle, WA) – Lee & Associates Commercial Real Estate Services is pleased to have brokered the disposition of the 454 Building located in Seattle, Washington to 454 Viking, LLC, on behalf of their client, Gordon 454 LLC. The 454 Building, located in the Fremont neighborhood of Seattle on N 34th Street, sold for $5,400,000 to an Owner/User at asking price. CBRE assisted the Buyer in this transaction, who secured SBA financing. “The…
Sound Credit Union Expands Its Tacoma Office Space By 60%
September 30, 2022 (Seattle, WA) – Lee & Associates Commercial Real Estate Services is pleased to have represented Sound Credit Union in its 22,721 SF lease at Pacific Plaza, located at 1250 Pacific Avenue in Tacoma, Washington. Harrison Laird of Lee & Associates represented the Tenant; the Landlord, Pacific Plaza Development LLC was represented by Chris Highsmith, Mike Hickey and Briana Hickey of Neil Walter Company. Sound Credit Union has been headquartered in downtown Tacoma…
Arlington Retail Center Purchased for $7.165M
September 19, 2022 (Bellevue, WA) – Lee & Associates Commercial Real Estate Services is pleased to have brokered the acquisition of Smokey Point Plaza, a 24,794 square-foot retail center located in Arlington, WA, on behalf of their client 7 Lakes Development. Located on 172nd Street NE in Arlington, Smokey Point Plaza was purchased for $7,165,000. The retail center consists of 13 tenants and was 100% occupied at the time of sale. Less than one mile…
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…
Comprehensive Life Resources Purchases ±47,000 SF Building in Downtown Tacoma
August 25, 2022 (Bellevue, WA) – Lee & Associates Commercial Real Estate Services is pleased to have brokered the acquisition of 737 Fawcett Avenue located in Tacoma, WA to Comprehensive Life Resources. The +/- 47,000 SF office building and associated parking lots, located in downtown Tacoma, transacted at $3,607,000, approximately $76 per square foot for the building, which included 137 parking stalls. The property was owned by MultiCare Health System and was listed by CBRE…
$24.5 Million Maltby Single Tenant Industrial Purchase
104,672 SF Manufacturing Building Sells for $24.5 Million August 25, 2022 (Bellevue, WA) – Lee & Associates Commercial Real Estate Services is pleased to have assisted Cairn West in its acquisition of the OSW facility, a 104,672 SF industrial/heavy manufacturing building centrally located in Maltby, WA. The OSW Building, which transacted at $24,500,000, was completed in 2018 and is a specialty single tenant industrial and manufacturing building located on 10.14 acres. The state-of-the-art facility was…
NEW CONSTRUCTION FROM LOCAL WEST COAST INDUSTRIAL DEVELOPER TO BRING 87,060 SF TO NE LACEY
August 22, 2022 (Seattle, WA) – West Coast industrial real estate developer Slattery Properties has commenced construction on their newest industrial warehouse space at 8551 Commerce Place Drive NE in Lacey, WA. The 87,060 SF facility is the 8th industrial building located in Thurston County developed by the Seattle based owner. The walls are tilted on the forthcoming for-lease warehouse and manufacturing space, currently known as Commerce Place Industrial, and full completion is anticipated in Q4 of…
$45 MILLION LAKE TYE BUSINESS CAMPUS SALE
August 15, 2022 (Seattle, WA) – Lee & Associates Commercial Real Estate Services is pleased to have represented Redmond 8660, LLC in its acquisition of Lake Tye Business Campus, an eight building flex industrial park centrally located in the Fryelands industrial hub of Monroe, WA. The Lake Tye Business Campus is 214,364 square feet located on eight separate parcels totaling 12.6 acres, and transacted at $45,000,000.00. Built in phases from 2004 to 2019, the Lake…