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June 14, 2012

Real Estate Buzz: Town center site in Lacey up for sale

Daily Journal of Commerce

On Monday, Kidder Mathews announced it is marketing for sale the 215-acre Lacey Gateway Town Center. A subsidiary of HomeStreet Bank is the seller. Bids are due July 6.

Triway Enterprises of Olympia was planning a large mixed-use project on the land next to Cabela's on Interstate 5. The Olympian newspaper reported that Triway failed to pay real estate taxes on property.

Kidder Mathews brokers Vanessa Herzog, Ryan Haddock, and Benjamin Norbe are marketing the project. Preliminary entitlements that would allow nearly 3.1 million square feet of commercial and civic space and more than 500 multi-family units are in place.

HomeStreet is selling an adjoining 125-acre residential development site on its own. Herzog said that property is under contract.

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