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CBRE Completes $14M Sale of LA Fitness & Shoppes in North Seattle
CBRE facilitated the $13.9 million sale of LA Fitness & Shoppes, a 51,329-square-foot, multi-tenant retail property in an infill location in north Seattle, to a private investor.
CBRE’s Dino Christophilis and Daniel Tibeau brokered the transaction on behalf of the seller, Madison Development, who originally developed the property in 2007. Madison Development is a prolific Seattle-based firm specializing in commercial and multi-family real estate development.
“LA Fitness & Shoppes has high-quality tenancy in an area poised for continued housing and population growth. The submarket has shown resilience with multiple big-box retailers recently moving to the area,” said Dino A. Christophilis of CBRE. “The property is a standout investment opportunity, and we are pleased with the outcome for both the seller and the buyer.”
Situated on 3.72 acres at 13244 Aurora Ave. N, the property comprises two components: a 45,000-square-foot building leased to LA Fitness and a 6,329-square-foot pad building fully leased to Jersey Mike’s, IRG Physical Therapy, and T-Mobile.
