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Mill Creek Residential Buys $26M Land Parcel in Kirkland
JLL closed the $26.25 million sale of a 139,223-square-foot land parcel in Kirkland, Washington. JLL represented the buyer, Mill Creek Residential, in completing the off-market sale from the seller, Totem Bowl and Investments, Inc.
The JLL Capital Markets Investment Sales and Advisory team was led by Senior Director Jordan Louie and included Senior Managing Directors Corey Marx and David Young, Senior Director Chris Ross and Directors Michael Lyford and Reed Curtis.
The property is currently a bowling alley that will be demolished to develop a fully approved, 369-unit, mid-rise multi-housing community. “The sale of the TechCity Bowl site is further evidence of the improved developer sentiment in the Greater Seattle market, specifically the Eastside,” said Louie.
The property will also offer 6,700 square feet of retail space and 425 parking stalls. The development site occupies a corner lot at 13005 and 13003 NE 70th Place, about 13 miles east of downtown Seattle.
