development land in changed hands in August when Newlife church sold its 8-acre property
on Clear Creek Road to The JWJ Group of Silverdale for $3.75
Newlife bought the parcels in 2008 with plans for
a Central Kitsap campus. The church is now
building a worship and training center in the former
Silverdale Regal Cinemas building.
The Clear Creek sale was among a number of high profile
commercial real estate transactions completed in August
and September. Some we’ve already written about, like
of undeveloped land in College Marketplace and the
former American Marine Bank headquarters on Bainbridge.
But there were still plenty of deals to catch up on. Here’s a
look at other major commercial sales from August and September
with details from the
county assessor’s office and additional sources:
College Marketplace, Poulsbo — $8.22 million
Sale date: Aug. 31
Sold by: MUFG Union Bank to Olhava
Investment Group LLC
Description: More than 60 acres of
development land in Poulsbo’s College Marketplace master plan area,
zoned for a mix of business park, commercial and residential
Notes: The buyer was Hotel Concepts of Seattle, which
plans a 110-room hotel on five acres near Home Depot. Land not
needed for the hotel is back on the market. Union Bank took
over the land in a foreclosure sale last year.
Clear Creek land, Silverdale —
date: Aug. 16
Sold by: Newlife Church
on the Peninsula to The JWJ Group LLC
Description: Two parcels
totaling 8.6 acres west of Clear Creek Road, just north of Greaves
Way and The Trails
at Silverdale shopping center.
bought this property in 2008 with plans to build a campus there.
The church is now
building a center near the Silverdale YMCA.
Former American Marine Bank,
Bainbridge — $3.65 million
date: Aug. 22
Sold by: Columbia State
Bank to Old Mill Place Propertiess LLC
American Marine Bank headquarters at 249 Winslow Way. Constructed
in the 1940s. Now home to Columbia
purchased by islander George Lobisser as an investment. The
Columbia Bank branch will remain in place.
Peninsula Glen Apartments,
Poulsbo — $2.84 million
date: Aug. 3
Sold by: Ronald and
Linea Montplaisir to Pen Glen LLC 1
apartment complex on five acres on Hostmark Street, east of North
Kitsap High School.
Notes: The same
buyer purchased the neighboring Woodcreek apartments, and has
plans to add 24 units to the combined
Sonic Drive-in, Poulsbo —
date: Sept. 8
Sold by: Columbia
Property Managers LLC to SB Poulsbo LLC
newly-constructed fast food restaurant on 1 acre at the
intersection of Viking Avenue and Highway 305.
Winslow Way building,
Bainbridge — $2.5 million
date: Sept. 29
Sold by: DLG Leasing LLC
to Michael and Darden Burns LLC
11,660-square-foot commercial building on 1 acre at 253 Winslow Way
Notes: Home to Seattle
Children’s Bainbridge Bargains Boutique.
Olympic Place II, Poulsbo —
date: Sept. 26
Sold by: Roben Family
Limited Partnership to James Lane C LLC
34,000-square-foot commercial building and parking lot on 3
acres at 1050 NE Hostmark Street, east of Highway
Notes: Built in
according to a listing.
Kingston — $1.8 million
date: Aug. 25
Sold by: Kingston Center
LLC to HH & Sons LLC
14,400-square-foot building on 1 acre on Highway 104, next to the
Hardware. It appears the Henery family just bought the building
from owners of the shopping center.
Former Sound Publishing plant,
Bainbridge — $1.45 million
date: Sept. 13
Sold by: Sound
Publishing Properties Inc. to Day Road Industrial Park
commercial buildings on 4.5 acres in the Day Road industrial
Notes: The main
building once housed Sound
presses and the Bainbridge Review newsroom. Now home
Former Frontier Bank,
Silverdale — $1.4 million
date: Aug. 9
Sold by: MUFG Union Bank
to SKBA LLC
14,000-square-foot bank building on 1 acre at the corner of
Silverdale Way and Myhre Road.
Notes: One of
several Frontier Bank branches acquired by Union Bank when
Lighthouse restaurant, Port
Orchard — $1.39 million
date: Sept. 8
Sold by: 429 Bay Street
LLC to Kashi 201 Williams LLC
9,250-square-foot restaurant at 429 Bay Street on the Port Orchard
owner Ali Kashi plans to
open a Cheers Bar & Grill in the landmark restaurant
building in January.
Kingston — $1.34 million
date: Sept. 14
Sold by: 17th On High
LLC to Kim Pax LLC
apartment complex at 10434 Highway 104 next to Reliable
Sunnyslope land, South
Kitsap — $600,000
Sale date: Aug.
Sold by: Davies Pearson
PC (trustee) to Assemblies of God Loan Fund
Description: Four parcels totaling about 26
acres on Victory Drive, near the intersection of Sunnyslope Road
and Highway 3, and a duplex on Jones Drive in Port
Notes: This was a
forced sale. The land was formerly owned by South Kitsap
Family Worship Center.
CLICK HERE TO SEE MY COMMERCIAL REAL ESTATE ROUNDUP FOR APRIL