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June 16, 2016

Off-market development site in South Lake Union sells for $16,250,000

Seattle, Wash. (June 16, 2016) - Create World America, an international developer and construction management firm, has acquired a high-rise development site located at 427 9th Avenue North in Seattle for $16,250,000. Commercial real estate firm, Kidder Mathews facilitated the off-market sale, which was completed in 23 days. Kidder Mathews China Services brokers Dave Speers and Skip Whitney represented the seller, Wilshire Capital Partners, a private real estate investment and development firm. Holly Yang and Sophia Wong, also with Kidder Mathews China Services, represented Create World America.

The 14,387 square foot South Lake Union site is fully-entitled for a 26-story, high-rise, multifamily residential project. Prior to the sale, Wilshire Capital Partners had a Master Use permit and building permit ready for deployment.

"This will be the first high-rise residential project in the South Lake Union technology hub," said Speers.

About Kidder Mathews

Kidder Mathews is one of the largest independently owned commercial real estate firms on the West Coast, with over 550 real estate professionals and staff in 14 offices in Arizona, California, Nevada, Oregon, and Washington. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, sustainability, and project and construction management services for all property types. The firm performs $4.7 billion in transactions, manages over 37 million square feet of space, and conducts over 1,300 appraisals annually. For more information, visit www.kiddermathews.com

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