Kidder Mathews has arranged the sale of a 54,886-square-foot multifamily development site at 9755 NE Juanita Drive in Kirkland, Washington. Dylan Simon, Jerrid Anderson, and JD Fuller of the Simon | Anderson Multifamily Team represented the seller, an institutional developer, and served as the sole brokers in the transaction.
Located in Kirkland’s Juanita neighborhood, the site is steps from Juanita Beach Park and Juanita Village retail, with access to the Cross Kirkland Corridor trail and connections to the regional light rail system. The property is also minutes from major employment centers, including Google, Microsoft’s Redmond campus, and Bellevue’s central business district.
The site has been rezoned to LR3(M), allowing for multifamily development up to 85 feet in height and five stories. Juanita remains a supply-constrained submarket, with no apartment developments currently under construction and just 50 units delivered since 2020, representing less than 2% of its existing apartment inventory.
“This assignment required significant patience and technical expertise. We started on this site in 2021 and assisted our client in working through a rezone, as well as navigating significant complexities along the way,” said Executive Vice President Dylan Simon. “When it came time to sell, our client wanted speed and certainty. The competitive process gave us the flexibility to select a buyer who could execute, closing a raw-land sale in under 90 days’ time.”
Throughout the assignment, Kidder Mathews also helped navigate wetland mitigation requirements. The fully marketed sales process generated six competitive offers, with the team directly sourcing the winning buyer.
The transaction reflects continued institutional developer interest in well-located, supply-constrained land on the Eastside. In competitive sales processes, buyers prepared to move quickly and execute without entitlement contingencies can gain a meaningful advantage.
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 15 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 20 offices across Washington, Oregon, California, Nevada, Arizona, and Texas. 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 55 million square feet of space, and conducts nearly 2,700 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
