Seattle & Northwest + Seattle + Apartments | June 17, 2022

CBRE Brokers Seattle Development Site Transaction

CBRE has brokered the sale of two parcels totaling 15,000 square feet in Seattle’s University District. The land, purchased by Landmark Properties, is located next to the recently opened U-District light rail station and is entitled for a 24-story multifamily building.

The site, located at 1200 NE. 45th St., is just a few blocks from the University of Washington campus, in a part of Seattle that is envisioned as an innovation district, similar to South Lake Union. The U-District has been rezoned to encourage higher density development and the University also plans to expand its education, research and office facilities.

“This was a once-in-a-generation opportunity to acquire a light-rail adjacent site in the heart of one of the nation’s most dynamic neighborhoods. Steps from the UW campus, the location is perfectly positioned to benefit from the redevelopment occurring across the U-District,” said CBRE Capital Markets’ Kyle Yamamoto, part of the team that brokered the transaction.

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About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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