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Vulcan Sells Issaquah Office Park, Modera Capitol Hill Underway

ISSAQUAH -- While they're busy building up South Lake Union, Vulcan Real Estate sold off Sammamish Park Place in Issaquah on Thursday for $128.25M. Talon Private Capital and Cerberus Capital Management purchased the three-building campus that currently leases space to Microsoft and Costco, among other companies. No word on how the change in ownership will affect their tenancy. [PSBJ]

BELLTOWN -- How much are a parking lot and 101-year-old apartment building worth? If you put them at 2011 Fifth Ave., they're apparently worth $20.7M. That's what Taiwanese real estate developer Chainqui Development paid for the Sheridan apartment building and the lot next door. That's $1,597 a square foot, which would make it one of the most expensive sales in almost a decade. The developer is expected to build a mixed-use project on the property. [PSBJ]

CAPITOL HILL -- Mill Creek Development's newest development community, Modera Capitol Hill is underway. The six-story building will include 135 apartments, including studio, 1-, and 2- bedroom homes with square footage will range from 382 square feet to 1,158 square feet. Renderings also show off the potential for 6,500 sq. ft. of ground-floor retail. [BBH]

NORTHGATE -- Wallace Properties received final certificate of occupancy for its new apartment community, 525 At the Enclave, located at 525 NE Northgate Way. Along with 507 At the Enclave, the two buildings now offer 428 apartments and 80K sq. ft. of ground floor retail (all fully leased). Designed by Baylis Architects, the building is expecting a LEED Silver rating. [525]