Commercial real estate roundup: Church sells development land in Silverdale

newlifePrime Silverdale 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 million.

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 the sale 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 uses.

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 — $3.75 million

clear-creekSale 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. 

Notes:  Newlife 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

columbia-bankSale date: Aug. 22

Sold by: Columbia State Bank to Old Mill Place Propertiess LLC

Description: Original American Marine Bank headquarters at 249 Winslow Way. Constructed in the 1940s. Now home to Columbia Bank.

Notes:  The property was purchased by islander George Lobisser as an investment. The Columbia Bank branch will remain in place.

Peninsula Glen Apartments, Poulsbo — $2.84 million

peninsula-glenSale date: Aug. 3

Sold by: Ronald and Linea Montplaisir to Pen Glen LLC 1

Description: An 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 properties. 

Sonic Drive-in, Poulsbo — $2.6 million

poulsbo-sonic_Sale date: Sept. 8 

Sold by: Columbia Property Managers LLC to SB Poulsbo LLC

Description: A newly-constructed fast food restaurant on 1 acre at the intersection of Viking Avenue and Highway 305. 

Winslow Way building, Bainbridge — $2.5 million

winslow-waySale date: Sept. 29

Sold by: DLG Leasing LLC to Michael and Darden Burns LLC

Description: An 11,660-square-foot commercial building on 1 acre at 253 Winslow Way West. 

Notes: Home to Seattle Children’s Bainbridge Bargains Boutique.

Olympic Place II, Poulsbo — $1.87 million

olympic-iiSale date: Sept. 26

Sold by: Roben Family Limited Partnership to James Lane C LLC

Description: A 34,000-square-foot commercial building and parking lot on 3 acres at 1050 NE Hostmark Street, east of Highway 305. 

Notes:  Built in 1984, according to a listing.

Hardware building, Kingston — $1.8 million

henerySale date: Aug. 25

Sold by: Kingston Center LLC to HH & Sons LLC

Description: A 14,400-square-foot building on 1 acre on Highway 104, next to the Food Market

Notes:  Home to Henery Hardware. It appears the Henery family just bought the building from owners of the shopping center.

Former Sound Publishing plant, Bainbridge — $1.45 million

soundSale date: Sept. 13

Sold by: Sound Publishing Properties Inc. to Day Road Industrial Park LLC

Description: Two commercial buildings on 4.5 acres in the Day Road industrial area. 

Notes:  The main building once housed Sound Publishing printing presses and the Bainbridge Review newsroom. Now home to Salisbury Woodworking.

Former Frontier Bank, Silverdale — $1.4 million

frontierSale date: Aug. 9

Sold by: MUFG Union Bank to SKBA LLC

Description: A 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 Frontier failed.

Lighthouse restaurant, Port Orchard — $1.39 million

b0017143761-187742Sale date: Sept. 8

Sold by: 429 Bay Street LLC to Kashi 201 Williams LLC

Description: A 9,250-square-foot restaurant at 429 Bay Street on the Port Orchard waterfront. 

Notes:  New owner Ali Kashi plans to open a Cheers Bar & Grill in the landmark restaurant building in January.

Robinswood Apartments, Kingston — $1.34 million

robinswoodSale date: Sept. 14

Sold by: 17th On High LLC to Kim Pax LLC

Description: An apartment complex at 10434 Highway 104 next to Reliable Storage.

Sunnyslope land, South Kitsap — $600,000

Sale date: Aug. 31

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 Orchard.

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 THROUGH JULY.

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