Continued Strength of North End Market Speeds Sale of Everett Apartment Community

December 12, 2013, By Gallen Neilly, National Real Estate Investor –  SEATTLE— Jones Lang LaSalle’s Capital Markets experts today announced the $8.7 million sale of Meridian Glen, an 86-unit apartment community in the desirable Silver Lake submarket of Everett, Wash. The buyer was Chicago-based Randolph Street Realty Capital LLC.
Jones Lang LaSalle’s Managing Director David Young, Senior Vice Presidents Corey Marx and Seth Heikkila, and Associate Matt Kemper led the team on this transaction.
Located at 12115 Meridian Avenue South and completed in 1990, Meridian Glen consists of two and three-story garden style buildings on 3.32 acres.  Community amenities include covered parking, a clubhouse, athletic center, indoor pool and spa with hot tub, sunning patio and children’s playground.
“This property sits in an attractive submarket less than four miles from Boeing’s 30,000 personnel Everett facility and with minimal new units due to come online through 2015, it provided a very attractive value proposition to the buyer,” said David Young.