Seattle & Northwest + Seattle + Apartments | March 6, 2023

CBRE Facilitates Sale of Bothell Multifamily Community

CBRE’s Pacific Northwest multifamily team of Eli Hanacek, Kyle Yamamoto, Jon Hallgrimson and Mark Washington has facilitated the sale of Madison Park, a 96,000-square-foot apartment community in the Seattle submarket of Bothell, WA. The buyer and the purchase price were not disclosed.

“This sale offered the chance for the buyer to acquire a well-maintained property in a submarket that is benefiting from the growth of the surrounding tech and life science industries,” said Yamamoto. “Limited new supply of low-density, garden-style apartments and tight submarket vacancy combine to support considerable future demand for housing in properties such as Madison Park.”

Located at 20520 Bothell Everett Highway, the 110-unit complex features one- and two-bedroom units averaging 870 square feet. Community amenities include a fitness center and sauna, outdoor pool, clubhouse and dining room. Nearby employment centers include tech and life science hubs in North Creek and Canyon Park as well as the University of Washington’s Bothell campus.

Image courtesy of Mark Griffith

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Inside The Story

CBRE's Kyle Yamamoto

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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