Residential real estate
sales
surged in Kitsap County last year. The same was true for
commercial sales, according to
assessor’s records.
Across the county, 302 commercial parcels changed hands in 2014, about 13.5 percent more than in 2013. A total of 198 were sold in single-parcel sales, 18.5 percent more than in 2013.
Those sales included some high profile properties. Below I’ve listed the 20 biggest commercial real estate transactions of 2014 by sales price.
A couple of notes before we get started:
— We’re talking about sales of property, not the business tenants associated with the property.
— Most the sellers and buyers were generic holding companies. You can plug the names into the state’s corporation search to get more details.
1. Arbor Terrace Apartments, Port Orchard
Sale date: Dec. 22
Sale price: $28.6 million
Sold by: Heritage Communities LLC. to Sea 1800 Sydney Avenue LLC
Notes: Two parcels totaling about 18 acres and 280 units.
2. Bay Pointe Retirement Center, Bremerton
Sale date: June 16
Sale price: $21.9 million
Sold by: AEWSH Bay Pointe Senior Housing to ARCH BPBRMWA01 LLC
Notes: A 3.3 acre retirement center in West Bremerton.
3. Bethel Junction, Port Orchard
Sale date: July 22
Sale price: $20.8 million
Sold by: Tavitac Bethel LLC. to Bethel Garp LLC.
Notes: A two-parcel, 157,500-square-foot shopping center that includes a Safeway (soon to be Haggen), Starbucks and other businesses. Sold to a San Diego investment group. Earlier blog post here.
4. Lowes, Silverdale
Sale date: Sept. 29
Sale price: $13.8 million
Sold by: Waco Silverdale LLC. to Broadway Tenth Silverdale LLC.
Notes: A 12.4 acre Silverdale parcel, with 220,000-square-foot building. Lowe’s has a longterm lease. Earlier blog post here.
5. Kitsap Way Walgreens, Bremerton
Sale date: Nov. 20
Sale price: $7.45 million
Sold by: Barrett LLC. to CIE Washington LLC.
Notes: One 1.45 acre parcel with 14,400-square-foot retail building. The adjacent Starbucks is on a separate parcel with a different owner.
6. Navy HR center, Silverdale
Sale date: Oct. 6
Sale price: $7.1 million
Sold by: Decade Investments LLC. to Navy HR Center Office LLC
Notes: Two parcels totaling 3.33 acres on Randall Way, just north of Target. The Navy has had a human resources center there for many years.
7. Olive Garden and Red Lobster, Silverdale
Sale date: July 28
Sale price: $7.1 million
Sold by: GMRI Inc. to ARCP/OG Silverdale WA LLC.
Notes: Also on Randall Way. The county recently approved a subdivision dividing the 3.7-acre property into two parcels, one for each restaurant building.
8. Trails at Silverdale, Silverdale
Sale date: July 30
Sale price: $4.38 million
Sold by: Homestead Business Park LLC. to Silverdale Centercal LLC.
Notes: Two parcels comprising 13 acres in the Trails at Silverdale shopping development, which is under construction. Centercal also bought adjoining properties.
9. The Cottage at Cascades, Bremerton
Sale date: March 31
Sale price: $3.3 million
Sold by: Albright Aid Propco LLC. to Health Care Reit Inc.
Notes: A 39-unit East Bremerton assisted living facility previously called Albright House. It was bought by Cascade Living Group of Bothell, which already owned the adjacent Ashley Gardens and The Willows communities. The name was changed to The Cottage. Previous blog post here.
10. ARCO & AMPM, Silverdale Way
Sale date: Jan. 15
Sale price: $2.5 million
Sold by: Cameron Enterprises Inc. to Revive Enterprise Inc.
Notes: Gas station and mini mart at the corner of Silverdale Way and Highway 308 (Keyport).
11. Marion Court Apartments, Bremerton
Sale date: Oct. 13
Sale price: $2.5 million
Sold by: Marion Court Associates to Marion Court Preservation LP
Notes: Two-acre complex near Forest Ridge Park in West Bremerton. Includes HUD-subsidized units.
12. Creekside Office Park, Silverdale
Sale date: Aug. 27
Sale price: $2.4 million
Sold by: Silverdale Creekside II LLC. ET to Kitsap Crest LLC.
Notes: A 1.5-acre parcel with offices off Bucklin Hill Road at the head of Dyes Inlet.
13. Dollar Tree, Bremerton
Sale date: Nov. 24
Sale price: $2.25 million
Sold by: Pep Boys to Patriot Equity Partners LLC.
Notes: Two-acre property with Dollar Tree off Highway 303.
14. Harborview Plaza, Kingston
Sale date: Oct. 15
Sale price: $2.2 million
Sold by: Ohio Ave Partners LLC. to DSR Enterprises LLC.
Notes: Mixed-use property at the corner of Ohio Avenue and Highway 104, just above the ferry terminal. Includes Mora Iced Creamery and a mix of offices.
15. Evergreen Pointe, Bremerton
Sale date: April 22
Sale price: $2.2 million
Sold by: Park Place Development LLC. to Clearview Sheldon LLC.
Notes: Eight parcels off Sheldon Boulevard in Bremerton, across from Evergreen Park. Developers hope to build 104 apartment units and commercial space on the property. Bremerton reporter Josh Farley has a full story here.
16. Mile Hill Taco Bell, Port Orchard
Sale date: June 9
Sale price: $1.95 million
Sold by: Mile Hill Investors LLC. to Convey Investments California LLC.
Notes: Less than an acre with a Taco Bell off Mile Hill Drive east of Olney Avenue. (The Taco Bell property off Kitsap Way also changed hands last year, but didn’t quite make our list.)
17. ARCO & AMPM, East Bremerton
Sale date: Jan. 15
Sale price: $1.76 million
Sold by: Cameron Enterprises Inc. to Aman & Ankit Inc.
Notes: Another ARCO/AMPM pairing sold by Cameron Enterprises, this one at the corner of Fairgrounds Road and Highway 303.
18. Hi Joy Bowl, Port Orchard
Sale date: Dec. 15
Sale price: $1.6 million
Sold by: TTMJ LLC. to TTKJ LLC.
Notes: The Port Orchard bowling alley appears to have changed hands within the Myers family, which also owns All Star in Silverdale. I’m checking on what changes this may bring about.
19. Pirates Cove SKIA, South Kitsap
Sale date: Nov. 19
Sale price: $1.36 million
Sold by: Paul and Mary Schmidt to Vosk Spirits Inc.
Notes: Fifteen undeveloped parcels, totaling about 14 acres, east of the airport in the industrial area formerly known as SKIA. The land is on Pirates Cove Avenue, which extends south off Old Clifton Road. Appears to be within Bremerton’s meandering city limits.
UPDATE: Vosk is an applicant for a recreational marijuana grow. The application is pending, according to state records.
20. Day Road industrial, Bainbridge Island
Sale date: Aug. 7
Sale price: $1.3 million
Sold by: 8040 Northeast Day Roast LLC to Makh Properties LLC.
Notes: This 1-acre Day Road warehouse property had the good fortune of being located in the tiny chunk of the island where the city is allowing recreational marijuana businesses.
The buyers are marketing the warehouse as a recreational marijuana growing and retail facility. The Bainbridge Review reported a marijuana shop was destined for that address . I haven’t seen a license come through yet.
