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Project Outline
Milliken
wanted to sell The Marketplace at Queen Anne in Seattle,
Washington. The property had been unsuccessfully marketed by
another brokerage from for six months prior the engagement of Andy
Miller and Dave Speers of GVA Kidder Mathews. The assignment was to
maximize proceeds to the seller. Marketing challenges included
acceptance by the investment market of a nontraditional multi-floor
retail development, condominium status, above market retail rents
(producing a record setting sales price on a price per foot basis),
and structured retail parking. Given that the property had already
been marketed for sale, a wide scope marketing effort was utilized
to identify a variety of local and national buyer prospects.
Services Provided
How GVA Kidder Mathews
Added Value
The selected buyer, DeYoung Family Trust, was a 1031 exchange buyer
represented by a local residential real estate broker. A sale price of
$15,000,000 was negotiated and the sale closed March 1996.
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The Market Place
at Queen Anne
Seattle, Washington |
