Cedar Springs
Exclusive Multifamily Opportunity
17703 84th Ave E | Puyallup, WA 98375
OPPORTUNITY
Berkadia Seattle Investment Sales is pleased to announce it has been retained as the exclusive listing broker for Cedar Springs located in Puyallup, WA.
This project, currently in various stages of development, presents a unique opportunity for investors to build on existing progress. Phase I construction has begun, featuring six apartment buildings and a clubhouse, all framed, roofed, and sided. Investors have the flexibility to customize interior designs to fit their portfolio strategies. Phase II offers the opportunity to develop an additional 108 homes, providing a distinct advantage for forward-thinking investors to capitalize on the groundwork laid, seamlessly integrating their vision to maximize returns.
Situated on South Hill in Puyallup, WA, the property benefits from significant economic growth driven by industrial expansion. In 2023, Amazon opened a new 850,000+ square foot warehouse, and Boeing added 845,000 square feet of space, both within 2 miles of Cedar Springs. The Frederickson industrial area boasts a total of 7.3 million square feet of industrial space, solidifying long-term stable growth in a region with an average household income of $140,000.
- ADDRESS
- CITY, STATE, ZIP
- COUNTY
- PHASE I UNITS
- PHASE II UNITS
- PHASE III UNITS
189
units in Phase I & II
51
projected phase III Units
917
Average SF
Phase I Progress
ASSET
Cedar Springs Phase I & II offers a distinctive investment opportunity with 189 apartment homes in the South Hill area of Puyallup, WA. Phase I construction has commenced, featuring 81 units, a clubhouse, and three garage buildings with 5 spaces each. The residences include a mix of studio, one-, and two-bedroom units, averaging 938 square feet. As a partially completed asset, it provides investors with a blank slate to complete the interiors, exteriors, and groundwork. Phase II presents a shovel-ready development site for an additional 108 homes and seven garage buildings with a total of 35 spaces. Additionally, there is a 9.7-acre adjacent opportunity available.
construction phases
CONTACT US
Investment Sales
DAVID SORENSEN
Managing Director
WA CRE #26603
206.801.3102
[email protected]
BEN JOHNSON
Managing Director
WA CRE #114515
206.801.3144
[email protected]
GEORGE PALLIS
Senior Director
WA CRE #138339
206.801.3070
[email protected]
PETER DUDUNAKIS
Associate Director
WA CRE #24008898
206.795.4169
[email protected]
KENNY DUDUNAKIS
Senior Managing Director
WA CRE #30749
206.521.7216
[email protected]
Mortgage Bankers
ROBERT DOXSEE
Managing Director
425.777.0235
[email protected]
MICHAEL MANOLIDES
Senior Director
253.670.2143
[email protected]
Bellevue Office
411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
425.230.2565
berkadia.com
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