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Conrad said he bought the property in 2014. At the time, he paid about $5 million. Later that year, Conrad sold a Stonelake Landing parcel containing a Carl's Jr. separately from the property for $2.125 million.
Bruce Wirt, of Kidder Mathews, represented the buyer for Stonelake Landing.
The seller was Shooting the Moon II LLC, which is associated with both Kidder Mathews and members of the Ross family. That LLC acquired the property from various members and trustees of the Ross family in early 2016 for $4.8 million. The Ross family had owned the property since the early 1960s. Corey Sollom of Kidder Mathews represented the seller.
Kidder Mathews wrote in its fourth-quarter report that Amazon was rumored to be leasing the office portion of the 162,000-square-foot building.
The deal shows Amazon still has an appetite for office space in Seattle as it decides where to build a second headquarters somewhere in North America.
According to a third-quarter 2017 report from Kidder Mathews multifamily investments group-the most recent available-regional apartment market vacancy rate is currently 3.9 percent, a figure well below the 20-year average of 4.9 percent. This figure is up from 3.4 percent stated in the spring 2017 report.
The park was developed in stages from the 1950s to 1980s and has three buildings with about 62,000 square feet. Tenants include Compass Aerospace Northwest and SeaLect Products. However, public records indicate a termination of the Compass lease.
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Ben Frazier has joined Kidder Mathews' Roseville office as a vice president, specializing in multifamily investments in the Sacramento area.
The buyer was a local private investor who was represented in the transaction by Kidder Mathews' commercial real estate brokers, Joe McDermott and Jeffrey Crocker.
Brandon Rohe has joined Kidder Mathews' Orange County office
as a vice president and he will specialize in the sale and leasing of industrial properties throughout Southern California.
Phoenix, Ariz. (December 27, 2017) - Eric Butler has joined Kidder Mathews' Phoenix office as a senior vice president and he will specialize in the sale and leasing of office, medical and investment properties.
Bob Woods has joined Kidder Mathews' Inland Empire office as a senior vice president, specializing in industrial properties.
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