Trent Development JV Acquires Shoreline Bldg. in Mixed Use Redevelopment Play
Private Investor Sells 24,000-SF Facility for $5.5 Million
http://product.costar.com/home/news/shared/190902
Seattle-based Trent Development, along with a private investment partner, acquired a 24,288-square-foot industrial building in Shoreline, WA from an individual owner taking title as Pearson Family Investment LLC. The property traded for $5.45 million, or about $224 per square foot.
Located on a 1.7-acre site at 19022 Aurora Ave N., the new ownership plans to redevelop the property into a mixed use complex with approximately 225 residential units. Although an exact timeline has not been disclosed, construction on the project is estimated to commence between 2019 and 2020.
Eric Bissell of Kidder Mathews represented the seller in the deal. Michael Swanson and Bob Fredrickson of Coldwell Banker Commercial Danforth represented the buyer.
Please see CoStar COMPS #4196360 for more information on the transaction.