Building Wealth

Helping investors make timely commercial real estate decisions that build wealth.

Swanson King / Kidder Mathews

FEATURED LISTINGS

Under Contract

Mt. Vernon Industrial Portfolio

23.08-acre parcel with 135,360 square feet of building space. Located in Skagit County's Bayview Ridge area, the property offers a rare opportunity for industrial development. The site is zoned Bayview Ridge Heavy Industrial (BR-HI), a designation that covers less than 0.1% of Skagit County's land. Formerly occupied by Northwest Hardwoods, the property is ideally suited for mill operations and other heavy industrial uses.

Price $30,971,000
Square Feet 229,900
New Price

Point Ruston Building 8 & Century Theater

Building 8 is a 10,110 SF building with 4 retail suites. The property is currently 82.2% occupied with MultiCare Indigo Urgent Care, Obee Credit Union, and Rebels & Lovers clothing store.

Price $13,200,000
CAP Rate 7.03%
Square Feet 45,925
New Listing

Highway 99 Assemblage

Three parcels, totaling 3.42 acres, front Highway 99. Zoned General Commercial (GC), these lots are in the Highway 99 Corridor (H99). This zone aims to encourage the development of mixed-use nodes at major intersections along Highway 99, typically located at bus rapid transit (BRT) stops, in line with the Highway 99 subarea plan. The assemblage includes 3 buildings: a former furniture store (25,467 SF), a former carpet store (9,240 SF), and a former Mercedes dealership (16,152 SF). Please contact Erik or Mike for further details.

Price $12,650,000

LATEST POSTS

The Hottest Real Estate Play Is in Your Neighborhood

Continuing our theme from last month, the Wall Street Journal recently published an article titled The Hottest Real-Estate Play Is in Your Neighborhood. The article highlights the growing popularity of strip retail centers.

Pacific Northwest Strip Retail Remains Strong

The pandemic has profoundly impacted the commercial real estate industry, causing significant challenges across all asset classes. Retail real estate, in particular, has faced uncertainty and disruption. However, despite current lending challenges in commercial real estate, strip centers are emerging as a favored asset class. One reason is their resilience.

ICSC Takeaways

We met with many clients and industry colleagues at the ICSC shopping center convention in Las Vegas last week. Here are a few of our takeaways:

RECAP

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