SEATTLE, WA, April 14, 2022 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of International District Mixed Use Site, a 20,160-square feet of land located in Seattle, WA, according to Joel Deis, regional manager of the firm’s Seattle office. The asset sold for $8,000,000.
Leroy Lutu, an investment specialist in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a developer, was secured and represented by Leroy Lutu.
International District Mixed Use Site is located at 815 S Weller St in Seattle, WA. The property was sold for land value. The price per square foot on the land was $396. The buyer plans to develop the property into a mixed-use multifamily or hotel development.
About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.