Oct 02, 2014

Market at Lake Tapps sold for $17M

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An LLC based in Ketchum, Idaho, called Boardman paid $16.6 million for Market at Lake Tapps, a Walmart-anchored shopping center at 19420 State Route 410 in Bonney Lake.

The seller is an entity managed by Matthew Felton of Bellevue.

Capital Pacific brokered the sale.

The shopping center is 92 percent leased. Other tenants are Office Depot, Starbucks and Bank of America.

ULI Emerging Trends Nov. 18

Urban Land Institute Northwest will hold its annual Emerging Trends forecast at 7:30 a.m. Nov. 18 at Seattle Marriott Waterfront, 2100 Alaskan Way. ULI Northwest will release the Emerging Trends in Real Estate report, which is based on interviews and surveys of more than 900 industry leaders. Mitch Roschelle, partner in PwC's U.S. Real Estate Advisory Practice, will be the keynote speaker, and there will be a panel of local real estate investors and experts. Register online at Northwest.uli.org or at 1-800-321-5011.

Eminent domain conference Dec. 9-10

The Seminar Group will hold a two-day conference on eminent domain Dec. 9 and 10 at Hotel 1000 in Seattle. The seminar will cover changes in the law, government projects and appraisal issues. Bart J. Freedman, a partner at K&L Gates LLP, and Kinnon W. Williams with Inslee Best Doezie & Ryder are program co-chairs. Other speakers include representatives from various law firms, a policy advisor from Mayor Ed Murray's office and Attorney General Bob Ferguson. For more information, or to register, visit: http://bit.ly/1udL0OE

Sep 25, 2014

Former Mastro project sells for $22M

Northshore Townhomes is an 86-unit project at 7000 N.E. 186th Place in Kenmore that was developed as condos in 2009 by Mastro Properties and later converted to rental units.

It just sold for $22.1 million to JB Matteson Inc. of San Mateo, California.

The seller was Grosvenor Americas USA Inc. Grosvenor bought the complex for $15.8 million in 2010 from a bank that seized the property from Mastro.

Jon Hallgrimson and Frank Bosl of CBRE managed the marketing and sale.

JB Matteson has been buying properties in major West Coast markets over the last few years, including a 124-unit apartment complex in Columbia City called Greenhouse and the 134-unit Langara apartments in Issaquah.

Corkins now Marcus & Millichap VP

Corkins

Marcus & Millichap promoted Larry Corkins to associate vice president of investments. Corkins has been with Marcus & Millichap since 1995. He was promoted to associate in 1998 and senior associate two years later. Marcus & Millichap was founded in 1971 and has more than 1,300 employees working in the U.S. and Canada. In 2013, the firm closed more than 6,600 transactions valued at approximately $24 billion.