SEATTLE — Colliers International has arranged the sale of Tyee Apartments and Levere Apartments, two multifamily properties located in Seattle’s University District.
Kennedy Tyee LLC and Levere LLC sold the properties to Seattle University District LP for $20 million. The transaction is the first time the assets have traded in more than 50 years.
Built in 1963 and located at 4115 Brooklyn Ave. NE, Tyee Apartments features 48 units in a mix of studios and one-bedroom units. Constructed in 1927 and located at 4105 Brooklyn Ave. NE, Levere Apartments offers 40 studio, one- and two-bedroom units.
Tim McKay, Dan Chhan, Sam Wayne and Arvin Vander Veen of Colliers International handled the transaction.
MILL CREEK, WASH. — Coast Equity Partners has completed the sale of Mill Creek Medical Pavilion (MCMP), a medical office building in Mill Creek, a suburb north of Seattle. A private investor acquired the property for $9.5 million.
Located at 16030 Bothell Everett Highway, MCMP features 26,126 square feet of medical office space. Built in 1983 and renovated in 2011, the property is fully leased to a variety of healthcare providers, including outpatient services for family medicine, physical therapy, vision care, psychiatry and dentistry.
Chris Bodnar and Lee Asher of CBRE’s Denver office, along with Paul Carr, Steve Perovich and Marcus Yamamoto of CBRE Puget Sound Healthcare Properties, represented the seller.
LITTLETON, COLO. — Haven Senior Investments has arranged the sale of Golden Orchard Assisted Living, a 40-bed memory care facility in Littleton.
The property was 85 percent occupied at the time of closing and the price was $4.2 million. Neither the buyer nor seller were disclosed.
John Hauber, founder of Haven Senior Investments, facilitated the sale. Live Oak Bank provided acquisition financing.
PARKER, COLO. — Charles Dunn Co. has negotiated the sale of a single-tenant restaurant property located at 11179 Pikes Peak Drive in Parker, a suburb 25 miles southeast of Denver. A California-based private investment group sold the property for $3.2 million in a 1031 exchange.
Jack in the Box occupies the 2,920-square-foot property and has 12 years remaining on its lease. The buyer plans to hold the asset as a long-term investment with minimal landlord responsibilities.
Justin Mendelson and Joshua Berger with Charles Dunn Co.’s restaurant property group, in collaboration with JDS Real Estate, represented both the seller and the undisclosed buyer.
DORAL, FLA. — Foundry Commercial, with Miller Construction Co. as general contractor, is developing two new Class A industrial buildings totaling 318,043 square feet at Miami Central Commons, a business park located at 2301 N.W. 107th Ave. in Doral. Both buildings are scheduled for completion in mid-2019.
The $20.6 million tilt-wall construction project is creating 155,350 square feet of showroom space with Building 1 and 162,693 square feet of industrial distribution space with Building 2. Designed by Boca Raton, Fla.-based RLC Architects, the facilities will feature 32-foot clear heights, 54-foot column spacing and a 60-foot speed bay.
Part of the construction process includes the relocation of the main entry and security check-in area, as well as the entire parking area around the existing buildings. Miller Construction is demolishing the park’s original 1980’s administration and security check-in building as the site is being reconfigured to accommodate Building 2.
CHARLOTTE, N.C. — The Spectrum Cos., in partnership with Invesco Real Estate, is developing a mixed-use project located on a five-acre tract linking Charlotte’s South End with its Uptown business district. Located on South Tryon Street at Carson Boulevard, the project will include two nine-story, 220,000-square-foot office buildings, an urban plaza with event space, 40,000 square feet of street-level restaurant and retail space and a 200-room boutique hotel atop a parking deck.
The office component includes a flared design that offers private terraces on each floor overlooking the urban plaza, street-level retail and Uptown city lights. Located on top of a parking deck, the lifestyle hotel will include a rooftop bar.
The project is the first venture between Spectrum and Invesco.