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Seattle & Northwest  + Portland  + Apartments  | 
Rock Creek Duplexes

COVID Pours Kerosene on an Already Emerging Trend: Suburban Demand

Late last year, Colliers oversaw the close of two separate multifamily transactions in Portland and Vancouver. The properties totaling 154 units sold for a combined total of $39.1 million and closed within a week of one another.

Colliers associate vice president Sean Worl and senior associate Ken Verbeck represented the seller and buyer in both transactions.

“COVID 19 poured kerosene on an already emerging trend: suburban demand. After more than 10 years of heavy urban expansion, the strain of that growth has created an intense demand for the suburbs,” said Worl. “Suburban areas offer residents more affordable housing options, an abundance of space, decreased traffic, lower tax burdens and less burdened public infrastructure.”

The first of the two transactions closed for $12.2 million. Better Apartments Neals Lane Townhomes sold the 70,925 net rentable-square-foot property located in central Vancouver at 2507-2511 Neals Lane and 2490-2474 Rossitier Lane to New Earth Equities LLC.

The seller of the second transaction, Rock Creek Duplexes LLC sold to VA7 Rock Creek LLC for $26.9 million. Rock Creek Duplexes is located along Highway 26 in the Silicon Forest at 4677-5015 NW Salishan Place and 20546-20885 NW Lapine Way in Portland.

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Sean Worl

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Sale/Acquisition