Home Commercial Lennar Northwest Acquires 20 Acres of Vacant Land in Snohomish, WA, for...

Lennar Northwest Acquires 20 Acres of Vacant Land in Snohomish, WA, for $14MM

By Jack Stubbs

On Thursday, January 17th, Lennar Northwest Inc., a homebuilder based in Federal Way, acquired nearly 20 ares of vacant land in Snohomish, Washington, for $14 million, Snohomish County records show. The seller of the land is listed as Mayview Forest LLC, an entity based in Alameda, California. The transaction was recorded on January 28th.

The sale was for one parcel of land totaling 19.96 acres, according to public documents, and the property category is listed as “land and improvements.” The land is vacant and does not contain any properties. 

Public records do not list a specific address for the property. However, the nearly 20-acre parcel appears to be located near the corner of 77th Ave SE and 132nd Place SE in the city of Snohomish. The property is approximately four miles south of the city of Snohomish via Washington State Route 9 and about six miles east of Mill Creek via State Route 96. 

Originally founded in 1954, Lennar Northwest is a national homebuilder that builds multifamily, condo, co-op, rental and single-family properties, according to the company’s web site. Lennar operates in 21 states and 49 markets nationally. Throughout the Puget Sound region, the company has residential communities in Everrett, Seattle, Renton and Milton, among other locations.

Lennar recently made an announcement regarding another of its projects in the Puget Sound region. On January 26th, Lennar opened eight new model show homes on at Ten Trails, which is a 2,200-acre mixed-use, master-planned community in Black Diamond, Washington.  

Southeast of Seattle and Bellevue, Ten Trails is designed for families and residents who embrace the outdoors and modern comforts. The community offers outdoor activities, parks and trails, technologically advanced and amenity-filled homes, according to Oakpointe Communities’ press release.

In mid-August 2018, Lennar acquired approximately 11 acres of land in Bothell—which is roughly twelve miles south of the recently-sold 20 acres—for $11.7 million from The Entrust Group Inc. based in Oakland, California.

Bothell’s multifamily market has been active over the last few months since mid-2018. In June 2018, Puyallup-based homebuilder RM Homes acquired 3.93 acres of vacant land in Bothell—located at 22307, 22303 and 22219 9th Ave. SE—from Bellevue-based Taylor Development Inc. for $11.4 million. And in mid-May, Kirkland-based developer MainStreet Property Group announced the start of The POP in downtown Bothell, which when completed in late Summer 2019 will ultimately include 122 units and 10,000 square feet of ground-floor retail space.