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1926 Meridian Ave E - Edgewood Town Center
12.2 Acres of Commercial Land Offered at £19,561,251 in Edgewood, WA 98371
Investment Highlights
- Current entitlement & permit status offers an expedited development timeline
- Majority of Project Vested Under 2015 Building and Energy Code
- Affluent Demographic Base with $115,325 median household income in Edgewood
- Puyallup School District ranked among top in the state
- Vesting will provide substantial construction cost savings
- Highly desirable suburb on the King/Pierce County line
Property Facts
| Price | £19,561,251 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 12.20 AC |
| Property Type | Land |
| Price | £19,561,251 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 12.20 AC |
1 Lot Available
Lot
| Price | £19,561,251 | Lot Size | 12.20 AC |
| Price Per AC | £1,603,381 |
| Price | £19,561,251 |
| Price Per AC | £1,603,381 |
| Lot Size | 12.20 AC |
Description
CBRE proudly presents the Edgewood Town Center Development Site (the “Property” or the “Site”), a rare opportunity to purchase 12.2 acres of premier multi-family and commercial development potential in the rapidly growing Edgewood submarket of Pierce County, WA. Currently entitled and nearing construction permits for a three-phase project with 578-units and approximately 31,500 SF of retail, the Site offers developers the ability to add a near-term start to their pipeline. The Property provides convenient access to major employment centers and lifestyle destinations, including The Outlet Collection shopping center, South Hill Mall, Federal Way Town Center, top-rated Puyallup School District, Kent Valley and downtown Tacoma. With a limited supply of new construction in the submarket, the Edgewood Town Center Development Site is perfectly positioned to benefit from accelerating rent growth and considerable rental upside amid improving rental fundamentals.
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1926 Meridian Ave E - Edgewood Town Center
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