SEATTLE — Amazon (NASDAQ: AMZN) will add 125,000 local employment opportunities through the United States, on top on the 40,000 corporate and technology positions the company announced in early September. The new roles in fulfillment and transportation offer an average starting wage of more than $18 per hour, and up to $22.50 per hour in some locations. Additionally, the company provides full-time employees with comprehensive benefits from day one, including health, vision and dental insurance; 401(k) with 50 percent company match; up to 20 weeks paid parental leave; and Amazon’s Career Choice program that pays full college tuition for the company’s full-line employees. Employment opportunities are available in hundreds of cities and towns across the country. Some states with the most roles include Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Texas and Washington. In 2021, Amazon opened more than 250 new fulfillment centers, sortation centers, regional air hubs and delivery stations in the United States and will open over 100 more buildings in September alone.
TONASKET, WASH. — Marcus & Millichap has brokered the sale of a retail building, located at 409 E. Whitcomb Ave. in Tonasket. A limited liability company sold the asset to another limited liability company for $1.1 million. U.S. Bank occupies the 4,754-square-foot property under a net-lease basis. The bank has operated at the location for 35 years and recently executed a five-year lease extension. The property recently underwent an interior remodel. Clayton Brown and Ruthanne Romero of Marcus & Millichap represented the seller and buyer in the deal.
SAN FRANCISCO — NorthMarq’s San Francisco office has arranged the $132 million in refinancing for six multifamily properties in California and Washington comprising 965 units. Dennis Williams and Tom Wright of NorthMarq arranged the financing for the borrower, JB Matteson, through its long-time correspondent relationship with Allianz. The six permanent loans featured fixed interest rates with interest-only payments for the full 10-year terms. The financing includes: A $19.2 million loan for Avanti Apartments, a 216-unit property located at 4450 El Centro Road in Sacramento. A $31.4 million loan for Millworks Apartments, a 124-unit community located at 900 Reichert Ave. in Novato, Calif. An $18.5 million loan for Reflections at the Park, a 244-unit complex located at 11510 NE 112th Drive in Vancouver, Wash. A $19.4 million loan for Tustin Cottages, a 93-apartment community at 1361 El Camino Real in Tustin, Calif. A $25.5 million loan for Urban Village, a 129-unit property at 1081 Long Beach Blvd. in Long Beach, Calif. An $18 million loan for Waterfront Apartments, a 96-unit community with 4,000 square feet of commercial space in Petaluma, Calif.
BELLEVUE, WASH. — Continental Properties has completed the sale of BLU Bellevue, an apartment property located in downtown Bellevue. Virtu Investments acquired the community for $109 million, or $1,004 per square foot. Built in 2020 by Continental Properties, BLU Bellevue features 135 apartments, a rooftop terrace, 24-hour fitness center, pet facilities, parking garage with electric charging stations, and 360-degree cityscape and mountain views. Units feature floor-to-ceiling, triple-pane windows; air conditioning; walk-in closets with custom, built-in shelving; and biometric wall safes. Philip Assouad, Giovanni Napoli, Ryan Dinius, Sidney Warsinske and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.
LAKEWOOD, WASH. — Seattle-based Thayer Manca Residential has completed the sale of Citizen & Oake, an apartment community in Lakewood. An undisclosed buyer purchased the property for $60 million. Thayer Manca originally acquired the property in 2016 for $32.9 million and completed $4.8 million in renovations. Located at 5406 82nd St. SW, Citizen & Oake features 231 apartments and a 5,000-square-foot clubhouse with a fitness center, office space, community kitchen, game room and lounge, outdoor grills and firepits. The property also offers a secure package locker room, pet park and 40 solar panels. Interior renovations were completed in 227 units and the property received a full rebranding.
Marcus & Millichap Negotiates Sale of 38-Unit Brooks Square Apartments in Spokane Valley, Washington
SPOKANE VALLEY, WASH. — Marcus & Millichap has arranged the sale of Brooks Square, a multifamily property located in Spokane Valley. The asset traded for $4.5 million. The names of the seller and buyer were not released. Located at 10211 E. Main Ave., Brooks Square features 38 apartments in a mix of 26 one-bedroom units and 12 two-bedroom units. Community amenities include a clubhouse, laundry room, covered parking and pool. The property was built in 1972 and fully occupied at the time of sale. The transaction also included a parcel of land adjacent to the apartment complex that currently has a three-bedroom house. The buyer plans to develop the parcel into additional apartment units. Georgie Christensen-Riley and Joshua Reynolds of Marcus & Millichap’s Portland, Ore., office represented the seller and buyer in the deal. Joel Deis, also of Marcus & Millichap, assisted in the closing.
MUKILTEO, WASH. — CBRE Senior Housing has arranged $19.5 million in financing for Harbour Pointe Senior Living, a 106-unit assisted living and memory care community in Mukilteo, approximately 25 miles north of downtown Seattle. Aron Will, Austin Sacco and Adam Mincberg of CBRE Senior Housing arranged the financing on behalf of a joint venture between Capitol Seniors Housing and a large university endowment. Integral Senior Living operates the community. The community, originally acquired by the owners in 2015, sits directly adjacent to Paine Field, a once-commercial airfield that is now primarily used as a Boeing assembly plant. Home to generations of former Boeing employees, the Harbour Pointe neighborhood is an affluent pocket of Mukilteo with numerous local amenities, including the nearby Harbour Pointe Golf Club. CBRE Senior Housing originated a seven-year, floating-rate loan with four years of interest-only payments through its Freddie Mac Optigo lending program.
SEATTLE — Essex Financial Group has arranged a $75 million permanent loan for Menashe Properties to refinance Medical Dental Building, an infill medical office building in downtown Seattle. The sponsor purchased the 297,470-square-foot historic building in 2019 and assumed existing debt on the property. The seven-year loan features a fixed interest rate with three years of interest-only payments followed by a 30-year amortization. Alex Riggs and Blaire Butler of Essex Capital Markets secured the financing for the borrower. Originally built in 1924, the 18-story office building has undergone several renovations with the most recent completed in 2014. At time of financing, the property was 91 percent occupied by 123 tenants. The property also features ground-floor retail space, which a coffee shop and local pharmacy occupy.
EVERETT, WASH. — Marcus & Millichap has arranged the sale of a retail center located at 811 S.E. Everett Mall Way in Everett. A limited liability company sold the asset to an undisclosed buyer for $5.8 million. Trader Joe’s, Dollar Tree, T-Mobile and Olympic Hot Tub occupy the 24,800-square retail property. Trader Joe’s has been at this location for more than 25 years and recently extended its lease. Clayton Brown and Ruthanne Romero of Brown Retail Group of Marcus & Millichap’s Seattle office represented the seller in the deal.
SEATTLE — CBRE Senior Housing has arranged $10 million in financing for Emerald City Senior Living, a 119-unit assisted living and memory care community in Seattle. The community sits six miles north of downtown Seattle within the Maple Leaf neighborhood, a burgeoning and affluent residential area of Seattle. Built in 2006 by a seniors housing architect, the community features high-end amenities. Aron Will, Austin Sacco and Adam Mincberg of CBRE Senior Housing, arranged the financing on behalf of a joint venture between Capitol Seniors Housing and a large university endowment. Integral Senior Living is the operator. The two-year, $10 million, floating-rate bridge loan features full-term interest-only payments and extension options through CBRE’s multifamily bridge lending program, MF1 Capital LLC.