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March 10, 2025

Old Burgermaster site sells for $70M

By BRIAN MILLER

Rendering by Encore Architects [enlarge]
The master use permit came in June for Quarterra's redevelopment of the 4-acre Safeway/Burgermaster property just east of University Village, near Five Corners.

SEATTLE — The Burgermaster near University Village closed last month. Since it sat on land owned by Safeway/Albertsons (the grocery store shuttered in 2023), and since Quarterra has its permits for a 796-unit apartment project, the next big question was the land sale at 3020 N.E. 45th St.

King County recorded that $70 million deal on Friday. There had also been some smaller separate sales to the developer, once known as Lennar Multifamily Communities. Brokers for last week's sale were not announced.

Safeway/Albertsons had owned about half the property for several decades, then in 2021 paid the local Vivolo family $25 million for the rest of it. A few other parcels contribute to a roughly 4-acre site.

The new owner of record is QMC MH UV Property Owner LLC.

Quarterra hasn't announced a start date for the midrise project, which was designed by Encore Architects. Demolition should soon follow. There's also a bit of polluted soil to remove, left by a long-departed gas station and auto shop. Quarterra will serve as its own builder.

Public records indicate a $275 construction million loan from Aris Mortgage Lending, Athene Annuity & Life and two Luxembourg entities.
 

Brian Miller can be reached by email at brian.miller@djc.com or by phone at (206) 219-6517.




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