KIRKLAND, WASH. — JLL Capital Markets has arranged the acquisition of a land parcel at the corner lot of 13005 and 13003 NE 70th Place in Kirkland, across Lake Washington from Seattle.
Mill Creek Residential purchased the asset from Totem Bowl and Investments for $26.2 million in an off-market transaction.
The 139,223-square-foot land parcel currently features the TechCity Bowl building that will be demolished to develop a fully approved, 369-unit, mid-rise multifamily community. Of the 369 units, 36 will be affordable. Additionally, the property will offer 6,700 square feet of retail space and 425 parking stalls.
Jordan Louie, Corey Marx, David Young, Chris Ross, Michael Lyford and Reed Curtis of JLL Capital Markets Investments Sales and Advisory represented the buyer in the transaction.