Low Vacancy, Pipeline Will Sustain Long-Term Demand for 207 East

207 East, a newly constructed multifamily community in Edgewood, WA, recently sold to Security Properties for an undisclosed purchase price, according to CBRE. Built in 2020, 207 East has 288 apartment homes with one-, two- and three-bedroom floorplans, and an average unit size of 892 square feet. The property has 14 buildings on 16 acres.

“207 East represents best-in-class suburban new construction with spacious units and top-of-market amenities. Edgewood has historically low multifamily vacancy and very few new apartment projects in the construction pipeline, which will help sustain long-term demand for 207 East,” said Eli Hanacek of CBRE. The property is located at 207 Meridian Ave. E. in Pierce County. It is within walking distance of Surprise Lake Square retail center and a short drive from the employment hubs in Tacoma, Seattle, Bellevue, Kent Valley and Joint Base Lewis–McChord.