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Snohomish and Eastside King County Commercial Property Sale Summary for July 2010

Here is a summary of the commercial sales in Snohomish County and King County’s Eastside .  The number transactions is similar to previous months.  However, the transactions are generally larger than in previous months.

The data comes from the Commercial Brokers Association database.

Snohomish County Sales

In Snohomish County, there were 4 sales.  Two of the sales were of large developable properties (close to 60 acres) in Monroe.  One of the other properties was an 11-unit apartment complex in Lynnwood.  It sold for 965,000, which was just over a 7.5% CAP rate.

The other property that sold was a large retail shopping center, which sold for just under $2 million.

All the properties sold at significant discounts to list prices.

East King County Sales

In East King County there were 5 sales.  Like in Snohomish County, there were 2 land sales; an office development site in Woodinville and a mixed use site in North Bend.  Two of the properties were components of the same office park in Kirkland.  They sold for $2,885,000 and $2,435,000, which equates to $137/SF.   The last property sold for the least: a small medical office condo in Bellevue. It sold for $455,000.

Here are links to the details:

Snohomish County… http://www3.commercialmls.com/epropertydata/8842689583239

East King County… http://www3.commercialmls.com/epropertydata/5062689577804

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