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Massive Two-Tower Assemblage Trades Hands in Seattle’s University District
Landmark Properties acquired the eight-parcel Campus Station development opportunity in Seattle’s University District for $39 million or $950-per-square-foot. The site spans nearly an acre from 4202 to 4238 12th Avenue NE, and was the largest contiguous, fee-simple assemblage to hit the Seattle market since the rezone toward greater density and taller buildings in 2017.
Construction is set to commence in 2021 on two residential towers with 1,100 beds in 549 units. The site is near the University of Washington and Sound Transit’s future U District station.
Colliers International’s Tim McKay, Dan Chhan and Sam Wayne represented the unnamed sellers.
McKay says, “The U District continues as one of Puget Sound’s most desirable locations for investors, given the 1) expanding student enrollment at UW, a Tier-1 university; 2) the opening of light rail in the University District in 2021 with direct connection to major employers in downtown Seattle; and 3) limited supply of quality developable sites in that submarket.”
Connect Seattle is set for tomorrow at Coterie Worklounge. Plan to join us for an afternoon of CRE conversations and networking on November 7th. You can find out more information and register on this link.
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- ◦Development
- ◦Sale/Acquisition


