Avalon Newcastle Town Center – Newcastle, WA
For registered members only
Property Type: Commercial Sold
Lots: Up to 256 units over Blocks 7, 8, 9,10
Asking Price: Asset Not Priced
Property Status: SOLD
Sold Price: $17MM
Avalon Newcastle is poised to become the next “marquee” master plan community in our region. The following Executive Summary will highlight the major points of this offering.
The Offering: The offering includes four blocks equaling 8.87AC Zoned Multi-family allowing up to 256 residential units, most likely attached townhomes or podium style condominium product. These four blocks are within the Avalon Newcastle Master Plan.
Avalon Newcastle Master Plan: The overall land plan provides for up to 900 units in an upscale contemporary village concept. Master Plan amenities include 30,000SF of neighborhood retail, a village green and immediate access to area trails and parks. Construction on the Master Plan begins in early 2015.
The Opportunity: This offering provides much needed residential upscale townhome or condominium product to the Greater Bellevue/Eastside marketplace. Commanding views are inherent with certain subject blocks. This opportunity is greatly influenced by its’ sought after location in an affluent neighborhood. Additionally, the superior access to I-405 and I-90, proximity to the region’s top employers of Microsoft, Boeing, Costco and T-Mobile make this an opportunity for a developer to deliver product in a highly desired area.
Not to be understated, this close-in “urban core” opportunity is rare. There is simply nothing else remotely available now or in the foreseeable future that will command the inherent values within such a well located, upscale master plan.
The offering is available immediately. We invite you to study this asset in detail via our secure hub at Real Capital Markets. We are also available to provide guided tours of the site.
For More Information Click here to view the Confidentiality Agreement.