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…
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…
Vanessa Herzog Discusses the Industrial Market with Seattle Business Magazine
E-commerce Drives Industrial Market Strength Industrial space is in high demand March 30, 2021 (Seattle, WA) Amazon and other retailers are going the last mile in the Covid-19 economy, and that’s delivering to Seattle-area industrial and warehouse investors. “Toward the end of April, e-commerce just took off. It has absolutely just gone bananas. A tremendous amount of unprecedented growth,” says Vanessa Herzog, principal at Lee & Associates of Seattle and a member of the Society of…
Candice Chevaillier Discusses Potential Post-Pandemic Multifamily Market – The Registry
Report: Systemic Changes to Seattle Multifamily Market Post-Pandemic Will be Few February 19, 2021 (Seattle, WA) 2020 saw Seattle investors and commercial real estate experts put the brakes on activity, as predicting how the market would evolve seemed like an insurmountable task. Movement in the market remained limited while speculation around emerging trends such as the impact of work from home and the popularity of suburban assets continued to swirl. However, a recent report…
LEE & ASSOCIATES WELCOMES THREE EXPERIENCED OFFICE SALES AND LEASING PROFESSIONALS TO THEIR TACOMA OFFICE
February 16, 2021 (Seattle, WA) – Lee & Associates Commercial Real Estate Services, the largest broker-owned commercial real estate firm in North America, is pleased to announce the addition of three seasoned brokers to its growing team. John Bauder, Harrison Laird, and Yeh-Hee Hahn, all formerly of CBRE, Inc., have joined Lee & Associates in its Tacoma office. Laird said of the move: “We are excited to be a part of the growing team at…
After $326M Portland sale, Alco invests $155M in Redmond, Bothell
January 28, 2021 (Seattle, WA) – In two deals that hadn’t yet been recorded by King and Snohomish counties by deadline Thursday, two business parks have sold for $155 million to local firm Alco Investment Co. Its broker, Jim Reed of Lee & Assoc., announced the deals and provided details. Kennedy Wilson was the seller for both properties. The fully-leased eight-building Redmond East sold for $80 million, or about $276 per rentable square foot. It’s…
Case Study – 1712 Dexter Ave N | Triplex
Key Deal Points 1712 Dexter Avenue N, Seattle, WA Sales Price: $1,253,250 Listed to closed in 65 days Multiple offer scenario in a turbulent and uncertain market “Candice and Daniel were great to work with. They listen to your goals and provide a plan that pulls it all together with the attention to detail that results in success. We sold a triplex in Seattle and completed and exchange into an 8-unit apartment on Whidbey…