Lake Washington School District (LWSD) has purchased a 25.46-acre property located on the northeast corner of 188th Avenue and future 70th Street in Redmond, Washington. Kidder Mathews commercial real estate brokers Jason Bloom and Todd Gauthier represented LWSD in the transaction. The seller was Cadman, a leading supplier of sand, gravel, and building material in the Pacific Northwest.
The property, formerly called Park 188, is a uniquely large development parcel directly east of the King County Urban Growth Boundary. It is adjacent to nature preserves, regional trails, and parks to support school district facilities and a growing residential neighborhood convenient for walking to school. Regional amenities and connections include Marymoor Park, Washington State Route 520, Redmond Town Center, and a future light rail station.
LWSD purchased the property to support the significant growth and critical need for schools in the district. Kirkland, Redmond, and Sammamish anticipate developing over 16,000 housing units in the next ten years, and large technology companies, including Microsoft, Amazon, Facebook, and Google, continue to expand in the area.
“The Eastside market remains the tightest market in the region, with high demand for office, industrial, and multifamily assets. The opportunity to acquire a property of this size, particularly where the zoning allows a wide array of uses, is scarce. The exceptional location adjacent to growing residential neighborhoods, various parks, trails, and amenities makes it an ideal location,” said Bloom, an executive vice president at Kidder Mathew. “This is a historic acquisition for the future and will have a positive impact on a large number of kids in the community,” he said.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with 900 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $8 billion in transactions, manages over 70 million square feet of space, and conducts over 1,800 appraisals annually. For more information, visit kidder.com.
About Lake Washington School District
Lake Washington School District is a high-performing public school district serving Kirkland, Redmond, and Sammamish, Washington. It is the second largest district in the state of Washington, with over 30,000 students in 56 schools.