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Bel-Red Transit-Oriented Development Site Sells for $12M
A 1.4-acre transit-oriented development site, at 1600 132nd Ave. NE in Bellevue, sold for $12.3 million, which works out to $200-per-land-square-foot. The Eastside property, which is next to the planned Bel-Red/130th East Link light rail station, was acquired by SummerHill Apartment Communities.
The new buyer has already received approval for a 249-unit building designed by Runberg Architecture Group, featuring a courtyard that will face the new light rail station. The Bel-Red corridor has experienced significant investment recently, including the $2.3-billion Spring District, the East Link Extension opening in 2023, and a number of tech employers growing their footprint in both Bellevue and Redmond.
Kidder Mathews’ Multifamily Investment Team, led by Dylan Simon and Jerrid Anderson, handled the deal on behalf of the seller, an unnamed private family office. The San Ramon, CA-based buyer was self-represented.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development
- ◦Sale/Acquisition


