CBRE Brokers $35M Sale of Land in Downtown Redmond for Multifamily Development

by Amy Works

REDMOND, WASH. — CBRE has arranged the $35 million sale of a land parcel in downtown Redmond to an undisclosed buyer. Eli Hanacek, Jon Hallgrimson, Mark Washington and Kyle Yamamoto of CBRE represented the undisclosed seller in the deal.

Located at 16135 NE 85th St., the 99,883-square-foot parcel is fully entitled for the development of 425 multifamily units. Initial plans proposed prior to the sale called for two nine-story apartment towers with one-, two- and three-bedroom floorplans and ground-floor retail space.

The site is within walking distance of the future Downtown Redmond Link light rail station, which is slated for completion in 2024.

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