Pacific Northwest Area News

The Martin at Meadowdale Sells for $5.2M

Ethos Property Group sold The Martin at Meadowdale apartment complex at 16028 44th Ave. W in Lynnwood, WA for $5.2 million, or about $217,000 per unit, to Isbe Corporation. The 22,262-square-foot multifamily community was completed in 1978 and provides one-, two- and three-bedroom homes that have all been recently renovated. It is located close to 11 schools within the area and has easy access to the I-5 and 405 Freeways. Donna Marshall of...
Posted: September 19, 2017, 2:56 am

Quadrant I-5 Corp Park - Bldg B Trades for $12.5M

The SmartCap Group, Inc. purchased Building B in the Quadrant I-5 Corporate Park at 808 134th St. SW in Everett, WA for $12.5 million, or about $182 per square foot, from Tochterman Management Group. The two-story, 68,575-square-foot office building was approximately 92 percent occupied at the close of escrow. It is one of three buildings within the Snohomish County business park. Todd Battison and Ken Hirata of Kidder Mathews represented the...
Posted: September 18, 2017, 11:34 am

Textio Preleases 22,000 SF at Seattle's Madison Centre

Textio preleased 22,400 square feet of office space on the 23rd floor of the in-development Madison Centre office building at 505 Madison St. in Seattle, WA. Scheduled for completion later this year, the 36-story, 764,000-square-foot office building is located in Seattle’s CBD submarket. Oscar Oliveira and Damon McCartney of Broderick Group, Inc. represented the landlord. Brian Hayden of Flinn Ferguson Corporate RE represented Textio.
Posted: September 18, 2017, 3:00 am

Market Trend: Seattle / Puget Sound's Mid-Year Industrial Deliveries, Construction and Inventory

During the second quarter 2017, seven buildings totaling 953,017 square feet were completed in the Seattle / Puget Sound market area. This compares to five buildings totaling 898,870 square feet that were completed in the first quarter. There were 3,452,246 square feet of Industrial space under construction at the end of the second quarter 2017. Some of the notable 2017 deliveries include: Des Moines Creek Business Park Phase III - 3B, a 352...
Posted: September 14, 2017, 6:34 am

JLL Wins Assignment to Find Electric Vehicle Charging Sites in $2 Billion Volkswagen Investment

For years, CRE brokers have predicted that electric vehicle (EV) charging stations will become standard amenities at office buildings, shopping centers, hotels, service stations and even restaurants. Volkswagen subsidiary Electrify America just handed JLL an assignment to identify EV charging station sites in 17 metros, nearly half of them in California, in an investment that will significantly add to the more than 16,000 charging stations already...
Posted: September 14, 2017, 2:40 am

CareTrust REIT Acquires Three-Facility Nursing Portfolio

CareTrust REIT, Inc. purchased three nursing facilities in the Northwest from Omega Healthcare Investors for $11.3 million, or about $130 per square foot. Totaling 86,972 square feet, the three healthcare facilities include:Wellspring Health and Rehabilitation, a 53-bed skilled nursing facility at 2105 12th Ave. Rd. in Nampa, ID;Secora Health and Rehabilitation, a 120-bed skilled nursing facility at 10435 SE Cora St. in Portland, OR andBrookfield...
Posted: September 13, 2017, 11:21 am

Aegis Senior Communities Buys 1.3 Acres for Proposed Development

Aegis Senior Communities LLC acquired 1.25 acre of previously-developed land at the southeast corner of Lake St. and 10th Ave. South in Kirkland, WA for $10.1 million, or about $1.08 million per acre, from Dargey Enterprises LLC and Michael A Grassmueck, Inc. The property is comprised of three contiguous parcels fronting Lake Washington.The buyer intends to develop a four-story healthcare facility consisting of underground parking, 106 units and...
Posted: September 8, 2017, 10:35 am

Investors Trade Michigan Street Bldgs for $5.7M

Georgetown Professional Center LLC purchased the two-building, 27,145-square-foot office portfolio located at 780 - 808 S. Michigan St. in Seattle, WA from Michigan Street Buildings LLC for $5.66 million, or about $209 per square foot. Recently remodeled in 2010, the buildings sit on over three acres in the heart of Georgetown. Tamir Ohayon, John Vernon and Bob Swain of NAI Puget Sound Properties represented the seller. Erik Robbins of Re/Max...
Posted: September 8, 2017, 2:43 am

Private Investor Acquired Multifamily Bldg in King County

A private investor sold the 52-unit Hallmark Apartments at 14409 8th Ave. SW in Burien, WA to a private investor for $6 million, or approximately $117,000 per unit. The 39,811-square-foot multifamily community consists of one- and two- bedroom units in five buildings. It was built 1968 in Seattle/Puget Sound market and was 95 percent occupied at the time of sale. Philip Assouad of Kidder Mathews represented the seller. Kellan Moll and Scott...
Posted: September 8, 2017, 1:53 am