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March 26, 2014

Columbia West Properties Sells $16M Seattle Development Site

CoStar Group

George Robinson

Continental Properties LLC acquired a 19,440-square-foot (0.45 Ac.) lot at 2001-2013 2nd Ave. in the Belltown neighborhood of Seattle for $16 million, or about $35.85 million per acre.

The site is currently a parking lot in the city's CBD, and has the potential to be developed into a residential tower reaching up to 400 feet tall with approximately 300 multifamily units.

Ross Klinger and Jim Klinger of Kidder Mathews represented the seller, and were the sole brokers in the sale.

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