SEATTLE — The 92-unit Sunset Electric apartment community in Seattle has sold to ASB Real Estate for $41.7 million. The community is located at 1111 E. Pine Street. It features an open-air interior courtyard and a rooftop deck. Sunset Electric is one of the few LEED-Platinum apartment communities in the Pacific Northwest. The seller, the Wolff Companies, was represented by JLL’s David Young, Corey Marx, Seth Heikkila and Matt Kemper.
SEATTLE — ASB Real Estate has acquired the 108-unit REO Flats in Seattle for $47.1 million. The community is located at 1525 14th Ave. It features high-end finishes, a rooftop deck, skyline views and a preserved, historic brick façade. The sellers were Madrona Real Estate and Glenmont Capital Management. The sale was executed by JLL’s David Young, Corey Marx, Seth Heikkila and Matt Kemper.
TACOMA, WASH. — Goodman Real Estate has acquired the 230-unit Eagles Landing Apartments in Tacoma for $18.5 million. The community is located at 2201 104th Street South. Eagles Landing was built in 1990. It is currently 98 percent leased. Common-area amenities include a fitness center, swimming pool, Jacuzzi, laundry facility, controlled-access gates and parking. In-unit amenities include fully equipped kitchens, fireplaces, cable access, washers and dryers, and balconies and patios. The property is located near Interstate 5, State Route 512 and Pacific Avenue. The seller was Eagles Landing LLC. The transaction was executed by Kenny Dudunakis and Jim Jensen of Berkadia.
TACOMA, WASH., AND SAN JOSE, CALIF. — Donahue Schriber Realty Group has picked up two retail assets in Washington for a total of $67 million. The buy includes Lakeland Town Center, a 125,142-square-foot neighborhood shopping center in Auburn, a suburb just northeast of Tacoma, and Westgate North, a 128,630-square-foot shopping center in Tacoma. Lakeland Town Center is occupied by notable tenants like Haggen Northwest Fresh, Starbucks, McDonald’s, Subway and Verizon. It is situated along Lake Tapps Parkway. Westgate North is anchored by Safeway and Ace Hardware. Additional tenants like Chase Bank, Round Table Pizza, KeyBank and Anytime Fitness round out the roster. These acquisitions follow on the heels of two additional retail purchases in California. Donahue also recently acquired Village Oaks Shopping Center, a 320,000-square-foot center in San Jose that is anchored by Target and Safeway, and Gilman District, a 91,300-square-foot center in Berkeley that is anchored by Whole Foods Market.
VANCOUVER, WASH. – Padden Industrial Park in Vancouver has sold to Herschell Management for $3.2 million. The 40,870-square-foot park is located at 7613 NE Street Johns and 4601 NE 78th Street. It is composed of five buildings. Herschell was represented by Garret Harper of NAI Norris, Beggs & Simpson. The seller, Heuvel Enterprises LLC, was represented by Jim Lewis of Cushman & Wakefield.
SEATTLE — A four-property retail portfolio in Seattle has received $64 million in financing. The transaction includes acquisition financing for a 49,000-square-foot shopping center in Bellevue that is anchored by Walgreens and Trader Joe’s. It also allowed the borrower to refinance Mill Creek Town Center, a 182,000-square-foot, grocery-anchored lifestyle center in Mill Creek, as well as two retail properties in Kirkland and Bellevue. The fully amortizing, cross-collateralized loans were arranged by Mike Taylor and Patrick Taylor of Newmark Realty Capital. The loans were placed through a relationship with one of Newmark’s correspondent life insurance companies.
SEATTLE — Seattle Design Center, a 410,000-square-foot, high-end home furnishings and design services center, has received $40 million in financing. The two-building center is located at 5701 6th Ave. S. The center first opened in 1973. Its two buildings are connected via a skybridge walkway. Seattle Design Center also contains 400 parking spaces. The borrower will use the floating-rate loan to acquire and reposition the center. It features a three-year initial term and two, one-year extension options. A debt fund provided the loan. Jordan Roeschlaub and Daniel Fromm of NGKF Capital Markets served as the exclusive advisor to the Los Angeles-based sponsor.
LAKEWOOD, WASH. – A 136,500-square-foot industrial property in Lakewood has sold to WLA Investments for $9.9 million. The property is located at 10111 South Tacoma Way in the Tacoma submarket. It is referred to as Lakewood 512 Business Park. The park was 93 percent occupied at the time of sale. The seller, SSC Acquisitions, is an entity owned by Public Storage. WLA was represented by Dan Vittone and Alan Pekarcik of Avison Young.
BELLEVUE, WASH. — Wig Properties has acquired the 181-room Red Lion Hotel Bellevue for $35.4 million. The five-building hotel is located at 11211 Main Street. Red Lion Hotel Bellevue was built in 1969 and contains 5,700 square feet of meeting space. The hotel is situated in the planned East Main light rail station’s transit-oriented development overlay. It includes more than six acres of land, with Interstate 405 to the east and the Bellevue CBD to the north. The seller, Red Lion Hotels Corporation, was represented by Jason Rosauer, Gary Guenther and Rob Anderson of Kidder Mathews.
TACOMA, WASH. – Sound Physicians has signed an 11-year lease for space at the Umpqua Bank Building in downtown Tacoma. The building is located at 1498 Pacific Ave. The office serves as the central hub for the hospitalist and transitional care organization. The company manages hospitalist, critical care and skilled nursing care for nearly 190 hospitals and close to 100 skilled nursing facilities that work in conjunction with these hospitals in 34 states. The administrative support staff in Tacoma includes 150 colleagues.
