SEATTLE — Landmark Properties has acquired two development parcels, totaling 15,225 square feet, at 1200 NE 45th St. in Seattle’s U-District. Terms of the transaction were not released.
Situated near the University of Washington campus and the U-District station on Sound Transit’s Link light rail system, the land is entitled for a 24-story, 237-unit multifamily property. The new light rail station, which opened in October 2021, is two stops from Capitol Hill and three stops from the Seattle central business district. By 2023, the rail station will also connect to the Eastside and downtown Bellevue.
Kyle Yamamoto, Eli Hanacek, Jon Hallgrimson and Mark Zoffel of CBRE Capital Markets’ Seattle office brokered the transaction.