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July 1, 2021
The Michael's Toyota property in Eastgate, and a neighboring shopping center, have sold for $78 million, according to King County records. The seller was SkyMatt Properties LLC, which acquired the Bellevue property in 2004 for almost $24 million. SkyMatt is associated with the Broadus family, which owns Michael's. Or did.
The buyer was Lithia Real Estate, which is associated with Lithia & Driveway of Medford, Oregon. That publicly traded company announced the Michael's Toyota purchase yesterday, before the sale. Terms for that weren't disclosed. The company is also known as Lithia Motors.
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