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14500 Juanita Drive NE, Kenmore, WA 98028
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© 2024 Berkadia Proprietary Holding LLC
Berkadia® is a trademark of Berkadia Proprietary Holding LLC
Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. This website is not intended to solicit commercial mortgage loan brokerage business in Nevada. In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
Contact us.
ACRE PROPERTY
0.39
Year BUilt
1967
Units
18
Prime Location with Excellent Connectivity: Situated between Bellevue and Everett, Kenmore is considered a major tech corridor thanks to the presence of many international and startup technology and biomedical companies. State Route 522 passes through the heart of Kenmore, connecting to major Interstates 5 and 405, with express light rail access to Downtown Seattle.
Award-Winning, Superior Quality Design and Build: Accommodating 132 students across 11 three-story free-standing cottages, the Student Village was awarded the Outstanding Multifamily Project in the 2010 LEED for Homes Awards from the U.S. Green Building Council.
Multiple Options for Upside: Turnkey infrastructure underscores immediate use of existing facilities and campus housing; 12.3 acres identified for multifamily, site amenities, and neighborhood services; nearly 37 acres of buildable land area allows for multiple future development scenarios.
Attractive Improvements and Amenities: Spanning nearly 51 acres, Bastyr includes a 177,990-square-foot campus complex, student housing, dining hall, fitness and wellness facilities, historic venue, botanical gardens, teaching clinics, and library.
Affluent Community: Kenmore is one of the most educated cities in Washington, with 59% of residents age 25 and older having obtained a bachelor’s degree or higher, well above the state average of 38%.
Exceptional Tenant Demographics: The average household income in Kenmore is 20.2% higher than in Metro Seattle and 41.8% above the state average; Kenmore’s average household income is projected to reach $241,156 by 2029, up 31.5% from 2024.
Strong Market Dynamics: Rising rental rates in Seattle’s Central and Eastside submarkets are driving migration to more suburban areas, resulting in compressed vacancy rates (3.6%) and increased rental prices. Median single-family home prices increased 3.2% year-over-year to $1.4M as of February 2025.
Investment Highlights
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opportunity 1: Existing campus + Bastyr Chapel
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Kenny Dudunakis
Senior Managing Director
WA CRE #30749
206.521.7216 kenny.dudunakis@berkadia.com
Email
Peter Dudunakis
Associate Director
WA CRE #24008898
206.795.4169
peter.dudunakis@berkadia.com
Email
George Pallis
Director
WA CRE #138339
206.801.3070
george.pallis@berkadia.com
Email
David Sorensen
Managing Director
WA CRE #26603
206.801.3102 david.sorensen@berkadia.com
Email
Ben Johnson
Managing Director
WA CRE #114515
206.801.3144 ben.johnson@berkadia.com
Email
INVESTMENT SALES
411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
425.230.2565
berkadia.com
berkadia.com/northwest
Bellevue Office
Allan Freedman
Managing director
allan.freedman@berkadia.com
310.741.2426
Email
MORTGAGE BANKING
BEn HArris
Senior director
ben.harris@berkadia.com
310.209.3236
Email
50.72 Acres with Existing Campus & 132 Modern Living Units in Kenmore, WA
Michael Manolides
Senior Director
253.670.2143
michael.manolides@berkadia.com
Robert Doxsee
Managing Director
425.777.0235
robert.doxsee@berkadia.com
Chad Blenz
Senior Director
206.491.2008
chad.blenz@berkadia.com
Brandon Lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
Jay Timpani
Managing Director
206.999.3206
jay.timpani@berkadia.com
Steven Chattin
Managing Director
425.269.3826
steven.chattin@berkadia.com
Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
MORTGAGE BANKING
INVESTMENT ADVISORS
Our Team
14500 Juanita Drive NE, Kenmore, WA 98028
Library, Laboratories, Cafeteria, Classrooms, Private Chapel, Gardens, Student Housing
177,990 SF (Aggregated)
50,600 SF
276,500 paved SF
132 Units
242604-9007
50.72 acres | 2,209,464 SF
Public/Semi-Public
King
Address
Existing Improvements
Existing Building + Chapel SF
Existing apartments sf
parking
apartments
parcel
lot size
zoning
county
Michael Manolides
Associate Director
253.670.2143
michael.manolides@berkadia.com
Robert Doxsee
Managing Director
425.777.0235
robert.doxsee@berkadia.com
brandon lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
Chad Blenz
Senior Director
206.491.3826
chad.blenz@berkadia.com
Jay Timpani
Managing Director
206.999.3206
jay.timpani@berkadia.com
Steven Chattin
Managing Director
425.269.3826
steven.chattin@berkadia.com
Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
INVESTMENT ADVISORS
MORTGAGE BANKING
Our team
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
contact
Phone: 206.521.7220
Fax: 206.521.7222
Seattle office
601 Union St, Suite 3909
Seattle, WA 98101
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
LOT SIZE SITE ADDRESS
building gross area
zoning
parking
BUILDABLE AREA
50.72 acres | 2,209,464 SF
14500 Juanita Drive NE, Kenmore, WA 98028
177,990 SF
Public/Semi-Public
Paved Surface 276,500 SF (Main Campus Lot, Events Lot, & Student Housing Lot)
36.92 AC / 1,608,235 SF (Approximate)
opportunity 2: university student village
architect
Units
AVG UNIT SIZE
GBA
BUILDINGS
STORIES
parking
Site Size
Collins Woerman
132
177 SF
50,600 SF
11
Three
65 Dedicated Spaces
12 AC / 522,720 SF
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Bastyr Chapel: Built in 1958 and approximating 5,600 SF, the Bastyr Chapel is a historic and versatile venue renowned for its beautiful architecture and serene ambiance. It hosts a variety of events, such as weddings, concerts, and professional music recordings, and is favored for its excellent acoustics and historical charm.
Campus Complex: Spanning 172,390 square-feet, the campus includes commercial kitchen labs, a campus library, dining commons and coffee bar, teaching clinics, top-floor dormitories, fitness and wellness facilities, as well as hiking trails and foot paths.
Student Village: Accommodating 132 students in 11 eco-friendly cottages designed by Collins Woerman, the Student Village is currently achieving LEED Platinum certification, earning the 2010 LEED for Homes Outstanding Multifamily Project award from the U.S. Green Building Council. The project features sustainable design elements such as radiant-floor heating, energy-efficient appliances, and recycled construction materials, resulting in 34% energy savings and a 97% construction waste diversion rate, fitting seamlessly into the campus’s natural setting.
Athletic Playfields: Two hardtop basketball courts and two baseball fields offer additional student activity engagement in an enchanting setting.
Community amenities
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opportunity 3: excess developable land
units proposed
net buildable area
height incentives
density bonuses
development incentives
Supports up to 1,000 apartment units
12.3 AC / 535,298 SF
Greater building heights in exchange for affordable housing units
Density allowances permitted for projects that include affordable housing components
Special Permit Review Process (Ordinance 21-0521) & Density Bonuses (Housing Policy Element 3.2.4)
potential development scenarios
connor lemley
Associate Director
206.455.1592
connor.lemley@berkadia.com
Michael Manolides
Associate Director
253.670.2143
michael.manolides@berkadia.com
david sorensen
Managing Director
206.351.5222
david.sorensen@berkadia.com
brandon lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
