Mission Accomplished: 19510 58th Ave W | Land Development Site OVERVIEW 19510 58th Ave W, Lynnwood, WA Land Development Site 32,670 SF / 0.75 AC Seller Representation Sale Price: $2,600,000 Outcome Listed: June 10, 2024 Under Contract: September 6, 2024 Closed: October 31, 2025 The Challenge The primary challenge was positioning the site competitively despite its distance from Lynnwood’s light rail development activity. High interest rates and construction costs made land acquisitions difficult, reducing the…
Industrial Development Horizon Q3 2025
SEATTLE, WA (October 30, 2025) – Lee & Associates is pleased to announce the release of our Industrial Development Horizon Q3 2025 report, offering a detailed look at the projects shaping the industrial landscape across the Pacific Northwest. This edition highlights active construction, planned developments through 2027, and long-term opportunities that will influence the region’s next phase of growth. After several years of record-setting construction, 2025 marks a turning point. New deliveries are tapering while demand for…
Denver Firm Acquires Tacoma Property Where Tesla Plans Collision Center
SEATTLE, WA (October 28, 2025) – A former Baxter Auto Parts store in Tacoma where Tesla Inc. is planning a collision center traded Oct. 15 for $7.4 million, according to Pierce County records. Matt McLennan and Chris Trussel, both with Kidder Mathews, and Tyler Dean of Macadam Forbes represented the seller. The buyer was represented by Zane Shiras and Amanda Hahnemann of Lee & Associates. “This listing generated a high volume of inquiries and showings, underscoring strong…
High-Quality Greenlake Mixed-Use Asset Trades For $10.9 Million
SEATTLE, WA (October 21, 2025) –Lee & Associates is pleased to announce the sale of Greenlake Pointe, a premier mixed-use multifamily property located at 1400 N 80th Street in Seattle, WA, to a private investor for $10 million. Lee & Associates represented the seller in collaboration with West Coast Commercial Realty. Greenlake Pointe is a mixed-use building with 21 residential units and three fully leased retail spaces, totaling 17,424 residential square feet and 3,248 retail…
Q3 2025 Office Market Report
The Puget Sound office market posted its strongest quarter of leasing activity since 2019, signaling renewed confidence among tenants even as vacancy held at 17.2%. Average asking rents rose to $40.33/SF Full Service, while sales averaged $425/SF with cap rates up to 7.2%. Notably, the sale of 15550 NE Turing Street was the largest stabilized office trade of the year, and the recent $77/SF sale of 2601 Elliott Avenue could become the largest office-to-residential conversion…
Q3 2025 Multifamily Market Report
Absorption has been fairly steady for the last three quarters, with 12,370 units absorbed in the third quarter. Vacancy is steady at 7% over the last two quarters. Asking rents have been relatively fl at for the last four quarters, but with diminishing supply, expected to begin to tick up in Q1 2026. Sales volume is up 30% quarter over quarter, coming in at $1,768,326,429 in the third quarter, which is up 81% over this…
Q3 2025 Industrial Market Report
The Pacific Northwest industrial market continued to face headwinds in Q3 2025, with vacancy climbing to 8.79% as sluggish tenant demand and a wave of second-generation space returned to the market. Net absorption remained negative, though at a slower pace than Q2, suggesting some stabilization. Average annual NNN rents held firm at $15.50/SF, as newer Class A assets kept pricing buoyant despite softer demand in older product. Investment sales volume increased, with pricing drifting lower…
Q3 2025 Retail Market Report
Retail in Washington stayed fairly stagnant for Q3. Vacancy rates continued to rise. Mortgage rates dropped momentarily and then increased as a surprise to most of us and cap rates hovered right above 6%. Sales activity was slow as rumors of rate drops have been pushed out months or potentially longer. Brokers are optimistic about a strong finish to 2025 and a super active 2026. As rates drop, we feel that interest in buying will…
Seattle Multifamily Investment Sale Case Study: Greenlake Pointe
Key Deal Points Address: 1400 N 80th St, Seattle Units: 21 Residential + 3 Retail Sale Price: $10,000,000 Timeline: Closed One Day before sellers 1031 acquisition Unique Feature: Newer construction property at an enviable location Client Quote “The Lee & Associates Multifamily Team was truly top-notch. Their communication and advice throughout the process was exceptional, keeping every detail on track from start to finish. I would highly recommend them to anyone looking to buy…
Q3 2025 Expanded Puget Sound Industrial Market Report
The Pacific Northwest industrial market continued to face headwinds in Q3 2025, with vacancy climbing to 8.79% as sluggish tenant demand and a wave of second generation space returned to the market. Net absorption remained negative, though at a slower pace than Q2, suggesting some stabilization. Average annual NNN rents held firm at $15.50/SF, as newer Class A assets kept pricing buoyant despite softer demand in older product. Investment sales volume increased, with pricing drifting…