Newly Built Sixth & Alder Apartments in Tacoma Sell for $46.2 Million

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Sixth & Alder, a brand-new luxury apartment building in Tacoma, Washington, sold today for $46.2 million in an off-market sale structured by Kidder Mathews. The firm’s Senior Vice President Austin Kelley and Executive Vice President Ben Norbe represented the buyer. The seller was 6th & Alder Partners, LLC.

The property is located at 3118 6th Avenue, in the heart of Tacoma’s 6th Avenue District. It is walking distance from Wright Park, Franklin Park, and the University of Puget Sound. Sixth & Alder comprises 111 units and 75,240 net rentable square feet (NRSF). The $614 price per NRSF* marks the highest in the history of Pierce County.

The Class A building offers a unique range of amenities including an on-site dog washing station, EV charging, fitness center, and rooftop putting green.

“The sale of the 6th & Alder apartments demonstrates yet another example of tremendous investor activity in the Tacoma market,” said Kelley. “Tacoma has seen some of the highest year-over-year rent growths in the Puget Sound Region.”

*Excluding retail square footage

About Kidder Mathews
Kidder Mathews is the largest independent 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, asset services, consulting, project and construction management, and debt & equity finance services for all property types. The firm performs $10.9 billion in transactions, manages 62 million square feet of space, and conducts over 2,600 appraisals annually. For more information, visit kidder.com.

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