Issaquah Motel 6 to Be Converted Into 103-Unit Workforce Housing
Sage Investment Group has closed on a Motel 6 in Issaquah with plans to convert the 103 hotel units to 103 studio rental apartments. Sage purchased the motel for $9.7 million.
Each unit will be fully renovated with kitchen spaces added, along with renovation of the amenity spaces, including onsite laundry, club room, outdoor patio space and leasing office. Construction on the property located at 1885 15th Pl NW is expected to begin in summer 2026.
The Issaquah market has a high cost of living, low vacancy rates, and a lack of future supply. The site is located half a mile from Costco’s headquarters, which has 2,100 employees. Sage Investment Group is a developer exclusively on adaptive reuse projects that create attainable housing. In September, the firm completed the $9.5 million acquisition of a 39,600-square-foot Econo Lodge in Everett, which will be converted into 124 studio apartments.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout