Real estate brokerage firm Marcus & Millichap has arranged the $13.5 million sale of an 18,000-square-foot parking lot adjacent to the professional sports stadiums in Seattle. Silver Cloud Hotels, which operates the nearby Silver Cloud Hotel Seattle Stadium, purchased the site in an all-cash transaction.
Marcus & Millichap’s Stren Lea represented the seller, the Apple family, that has owned the property since before either of the stadiums were built. Kidder Mathews’ Dave Speers represented Silver Cloud Hotels, which intends to keep the property as a hotel parking lot, but may redevelop it in the future. Under current zoning, the property could become a hotel, office or multifamily development.
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