Kidder Mathews has arranged the sale of Addison Grove, a 102-unit multifamily development site located at 17753 78th Avenue East in Puyallup, Washington. Dylan Simon, JD Fuller, and Elijah Piper of the firm’s Simon | Anderson Multifamily Team represented the seller and procured the buyer. The purchaser, Great Expectations SPC, is a Social Purpose Corporation with a focus on delivering affordable housing targeted to families within the local community.
Addison Grove represents a rare, shovel-ready opportunity in one of the Puget Sound’s most actively growing suburban corridors. The site is positioned to meet surging renter demand driven by Frederickson’s expanding employment base, which includes major industrial and logistics tenants, healthcare facilities, and proximity to Joint Base Lewis-McChord (JBLM). With limited new multifamily supply delivering in the immediate submarket, the project is well-timed to capture strong lease-up fundamentals from day one.
“Puyallup and Frederickson have quietly become one of the most compelling development targets in the South Sound,” said Dylan Simon, Executive Vice President at Kidder Mathews. “The combination of an expanding employment base, constrained supply, and a proven renter demographic makes Addison Grove an exceptional canvas for a well-capitalized developer.”
Frederickson sits at the southeastern edge of Pierce County’s primary growth corridor, benefiting from direct access to Highway 512 and SR-167 and strong commuter connectivity to Tacoma, Puyallup, and the broader I-5 corridor. The submarket has experienced accelerating in-migration from renters priced out of core Seattle and Tacoma markets, supporting above-average rent growth and low vacancy across existing multifamily inventory.
About the Simon | Anderson Multifamily Team
The apartment brokerage team led by Dylan Simon and Jerrid Anderson of Kidder Mathews represents apartment investors, developers, and landowners in the sale and purchase of apartment buildings and development land across the entire State of Washington. The team of 12 brokerage professionals specializes in the sale and purchasing of apartment buildings and development land from $1 million to more than $100 million. For more information, visit simonandersonteam.com.
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 19 offices across Washington, Oregon, California, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages $9 billion in transaction volume, manages 54 million square feet of space, and conducts nearly 2,700 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
