SOLD SOLD SOLD Commodore Works 1498 Pacific Ave 2205 N Commercial Ave 2600 W Commodore Way, Seattle, WA Tacoma, WA Pasco, WA Value: $9,800,000 Value: $15,750,000 Value: $1,800,000 Size: 58,281 SF Size: 55,000 SF Size: 12,200 SF Brokers: Sean Durkin, Zane Shiras Broker: Harrison Laird Brokers: Justin Froelich, Vanessa Herzog LEASED LEASED LEASED 8551 Commerce Pl Dr NE 18503 Firlands Way N Pacific Professional Center Lacey, WA Shoreline, WA…
Lee & Associates Pacific Northwest Promotes Andrew Hull to Principal
September 25, 2025 (Bellevue, WA) – Lee & Associates | Pacific Northwest is proud to announce the promotion of Andrew Hull to Principal. Formerly a Senior Vice President with the firm, Andrew has played a pivotal role in the continued growth of Lee & Associates’ industrial services group since joining the company in 2018. With a strong background in tenant and landlord representation, Andrew specializes in the leasing and sales of industrial and flex properties…
Seattle Mixed-Use Investment Sale Case Study: Barnes Building
Mission Accomplished: Barnes Building | Value-Add Investment OVERVIEW 2320 1st Ave, Seattle, WA Value-Add Investment 16,508 SF Seller Representation Sale Price: $3,200,000 The Challenge Our team represented the seller of the Barnes Building, a historically landmarked mixed-use building in Seattle’s Belltown neighborhood, which had not been on the market for more than 50 years. It features four levels of above-grade commercial and residential space, as well as a lower-level bar. The building was approximately 57%…
Seattle Owner-User Commercial Sale Case Study: PayMaster Building
Mission Accomplished: PayMaster Building | Owner-User Sale OVERVIEW 2116 NW Vernon Place, Seattle, WA Owner-User Opportunity 3,769 SF Seller & Buyer Representation Sale Price: $2,750,000 “Lee & Associates was exhaustive in their search for the ideal buyer and worked diligently to get the deal closed quickly once all parties were aligned on the terms”” – Brian Regan, Paymaster, LLC THE CHALLENGE Seller / Buyer Representation. Our team represented ownership in the…
Lee & Associates Pacific Northwest Welcomes Rachel Corp as Senior Vice President
September 17, 2025 (Bellevue, WA) – Lee & Associates Commercial Real Estate Services is pleased to announce the addition of Rachel Corp as Senior Vice President in the firm’s Tacoma office. Corp brings a deep foundation in retail leasing and investment sales along with a growth-focused mindset that aligns with Lee & Associates’ entrepreneurial culture. At Lee & Associates, Corp will focus on retail landlord and tenant representation throughout the Puget Sound region, with an…
Dover Apartments Sold in Strategic Downtown Seattle Investment Deal
SEATTLE, WA (September 11, 2025) – Lee & Associates is pleased to announce the sale of the Dover Apartments, a well-maintained 59-unit multifamily property located at 901 6th Avenue in Downtown Seattle’s. Originally constructed in the early 1900s, the building offers a rare combination of vintage architectural character and a walkable urban location, making it a unique opportunity in the Seattle multifamily market. The transaction, which closed with seller financing, marks the first U.S. acquisition…
Marysville Industrial Investment Sale Case Study: MD Marysville Industrial Park
12810,12906 & 12730 State Avenue, Marysville, WA Overview Industry: Industrial/Manufacturing Campus Size: ± 290,749 SF Total Across 3 Buildings Landlord: Private Ownership Tenant: Confidential Aerospace Manufacturer Lease Type: NNN | Renewal & Restructure The Outcome A full-campus renewal was executed with the existing aerospace manufacturer. The new lease structure provided: enhanced rent terms, clearer expense responsibility, embedded flexibility for the landlord, and preservation of occupancy. The outcome eliminated vacancy risk, deferred maintenance exposure, and allowed…
$8.9M Sale of Renovated Mixed-Use Property in Fremont Neighborhood
SEATTLE, WA (September 2, 2025) – Lee & Associates is pleased to announce the successful sale of the Equinox Apartments, a fully renovated 28-unit mixed-use property located at 711 N 35th Street in the heart of Seattle’s dynamic Fremont neighborhood. The property sold on August 29,2025, for $8.9 million plus $1.4 million for a cell towner on the property, with when combined, brings the total to $10.3 million. This marks a significant mixed-use, multifamily transaction…
Lee & Associates – Pacific Northwest August 2025 – Recent Deals
SOLD SOLD SOLD Dover Apartments Equinox Apartments 1102 Commerce Street 901 6th Street, Seattle, WA 711 N 35th Street, Seattle, WA Tacoma, WA Value: $9,650,000 Value: $8,900,000 Value: $3,250,000 Units: 59 Units: 23 Apartments & 5 Commercial Spaces Size: 24,131 Rentable SF Brokers: Daniel Lim, Candice Chevaillier, Dea Sumantri, Sara Bago Brokers: Candice Chevaillier, Daniel Lim, Dea Sumantri, Sara Bago Brokers: Tom Brown, Kyle Prosser LEASED LEASED LEASED 2660…
Multifamily Investment Review Fall 2025
Market Dynamics Resetting The Puget Sound region is seeing a tapering in construction activity after record-setting inventory growth in 2024. Only 11.6K units are expected to be delivered in 2025, down 22% from last year. The pipeline contracted significantly with new construction starts down over 80% from this time last year, representing the lowest level in over a decade. This drop in supply, coupled with healthy leasing velocity, is setting the stage for a recovery…