IPA Brokers Sale of 50-Acre Bothell Multifamily Asset

Institutional Property Advisors, a division of Marcus & Millichap, announced the sale of Griffis North Creek, a 524-unit multifamily property in Bothell, Washington.

“Griffis North Creek is an institutional-quality asset situated on nearly 50 acres of land in one of the region’s most dynamic employment hubs, a combination that is increasingly difficult to replicate in today’s market,” said Giovanni Napoli, IPA executive managing director investments. Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero, and Anthony Palladino of IPA represented the seller, Griffis Residential, and procured the buyer, GID.

The property is in Bothell’s tech and biomedical corridor within the Seattle area’s Eastside region. “Seattle’s Eastside continues to stand out for its concentration of high-paying employment and the long-term demand drivers that support multifamily housing,” said Andrew Leahy, national director of IPA Multifamily.

Built in 1999, Griffis North Creek is composed of 23 three-story buildings, with a mix of one-, two- and three-bedroom apartments.

Read More News Stories About: IPA, Marcus & Millichap

Connect

Inside The Story

IPAMarcus & Millichap

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

Order Reprints