By Jack Stubbs
On Monday, August 13th, nearly 12 acres of vacant land in Redmond sold for $22 million, according to public records filed with King County. The buyer was Polygon WLH LLC, an entity who shares the same address as homebuilder Polygon Northwest, which is a division of Newport Beach, California-based William Lyon Homes.
The seller was Cadman Inc., an entity affiliated with James Wallman based in Irving, Texas. Cadman Inc., a ready-mix concrete supplier based in Redmond just north of the acquired property, did not respond to calls for comment about the transaction.
The buyer’s Washington division—based in Bellevue—did not respond to calls or emails for comment about the property sale in time for the publishing of this story.
The sale was for a 11.94-acre parcel of vacant land located at 7039 196th Ave. NE, according to public documents. The highest and best use for the land, which totals 520,190 square feet, is mining and ore processing.
The nearly 12-acre parcel is approximately two miles east of downtown Redmond and five miles north of Sammamish. The property is just north of Sportsman Park and adjacent to Evans Creek Natural Area. The property is also less than a mile from access to Washington State Route 520.
William Lyon Homes is one of the largest regional homebuilders in the Western U.S. and is primarily focused on the design, construction, marketing and sale of single-family homes, according to the company’s web site. The company operates in California, Nevada, Washington and Oregon, among other locations. Some of the Polygon Northwest’s homes throughout the Puget Sound region include Luxe36 at Bryant Heights in Seattle; Brightview in Kent; Overlook at Riverfront in Everett; and Providence Ridge in Issaquah.