Home Commercial Ballard Retail/Warehouse Property Sells for $24.9MM

Ballard Retail/Warehouse Property Sells for $24.9MM

By Jack Stubbs

A Ballard retail and warehouse property sold earlier this week for $24.9 million, or approximately $208 per square foot, according to public records filed with King County. The buyer was Simply Self Storage Management, a storage facility and coordinator based in Orlando, FL. The seller was Seattle-based Goodman Real Estate, Inc., a privately-held investment company that specializes in commercial and multifamily real estate. The deal closed on September 6th.

Located at 2801 and 2811 NW Market St., the property is comprised of three parcels. One of the plots, a retail building built in 1947, is 8,132 square feet. Built one year earlier, the mini warehouse takes up a substantially larger portion of the three-parcel property, totaling 111,445 square feet. The third parcel is a parking area affiliated with the mini warehouse.

The three-parcel plot is located in Old Ballard, less than one mile south of Seattle’s Ballard neighborhood. The site is right on the waterfront, on the northern edge of Salmon Bay and less than half a mile from The Hiram M. Chittenden Locks, a popular tourist attraction in Ballard.

Habitude, a full service beauty salon located in the smaller structure, was opened in 1996. The property is multifunctional, offering a host of salon and spa services. The salon is also an artistic center, situated within a working art gallery wherein rotating art exhibits change throughout the year.

Goodman Real Estate, which is headquartered less than a mile from Seattle’s Belltown neighborhood, was founded in 1980. The company has a presence throughout the larger Washington area beyond Seattle as well, with properties in Puyallup and Tacoma. With a portfolio that contains projects located throughout the U.S., the company invests in multifamily properties, commercial resorts, land development and office and retail buildings.

Founded in 2003, Simply Self Storage has since grown to become one of the largest privately owned storage management facilities in the nation, according to the company’s web site. With over 200 locations nationwide, the company provides a variety of self-storage options, such as long-term storage, vehicle storage, and business-affiliated storage. Presently, it is unclear how Simply Self Storage plans to utilize the three parcels of land; the company did not respond to requests for comment as of the time of this publishing.