FEATURED PROPERTIES

3.5 Acres Multi-Family Site

For Sale - 3.5 Acres Multi-Family Site
3729 Meridian
Bellingham WA 98225
$ 4,500,000

Asset Class: Land
Total Bldg SF: N/A
Total Land SF: 152,460

Contact: Greg Martineau,CCIM
Gage Commercial Real Estate LLC

ESSENTIAL CRE TOOLS TO HELP YOU MAXIMIZE YOUR SUCCESS


The Commercial Brokers Association (CBA) is a powerful association of commercial real estate brokers dedicated to developing the knowledge and skills of our members, increasing their success, and raising the standard of practice. Our member-owned cooperative provides market research, listings services, legal contracts, networking and education opportunities, association management services, industry lobbying, and arbitration to brokers and professionals in CRE-associated industries in the Pacific Northwest.

Our membership includes top commercial real estate influencers and companies in the regions we serve.

Brokerage Firms | Brokers | Appraisers | Affiliate CRE Organizations

 


4,600+

 

Broker and Affiliate Members and Growing 

125,000+

 

Researched Commercial Property Records in Washington & Idaho

 13,000+

 

Active Listings in Washington and Idaho

 

34,000+

 

Sale comparable records (CBAcmas) gathered over 20 years in King, Pierce, Snohomish, Thurston, Kitsap, & Spokane counties

1,300+

 

Member Firms and Offices Represented

 

100+

 

Standard Contracts and Forms Available with Membership


 

OUR SERVICES

 

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JOIN NOW

 

We welcome the opportunity to discuss how CBA's services can benefit you.  

Please feel free to call CBA's Member Services at 425-820-3348 or 1-800-275-2522 for additional information.

 

MEMBER NEWS

NEW FORCE MAJEURE AND CLOSING ADDENDUM TO PURCHASE AND SALE AGREEMENT

The Commercial Brokers Association has published a new addendum to help address issues arising from the COVID-19 pandemic. The form, entitled “FMA Force Majeure 

Addendum,” is posted for use in Legal Library PRO within the Purchase & Sale Forms and is also posted in the List of Contracts. (Note: you must be logged in to the CBA website to view the form.) 

 

It may be used in new transactions as an addendum or existing transactions

as an amendment to provide for remedies in the event either party is prevented from performing in a transaction due to a force majeure.  

 

“Force majeure” is a French term that translates literally as “superior force.” A “force majeure event” is an event or effect that can be neither anticipated nor controlled. Many contracts contain a force majeure clause allocating risk between parties if the contract becomes impossible or impractical to perform in the event of a force majeure. Common examples of force majeure events include acts of nature, such as floods, earthquakes, hurricanes, tornadoes and the like, and acts of people, such as wars, riots or strikes and, of course, an epidemic/pandemic such as the current pandemic.  

 

DISCUSSION 

CBA’s new addendum provides for extensions of contingencies and conditions and the closing date in purchase and sale agreements for a limited amount of time should a force majeure event occur, precluding timely performance. It operates in the same way as the residential addendum recently released for the same purpose by NWMLS.  

 

The addendum provides that, if through no fault of the parties, and by reason of a force majeure event, any contingency or condition in the agreement cannot be timely completed, then all the time periods associated with that contingency or condition (and any related notices and responses thereto) are extended for an amount of time agreed to and stated in the form. 

 

An example may help:  

The parties reach mutual acceptance on March 25, and the buyer has a ten-day inspection/feasibility contingency.

On March 26, a shelter-in-place order goes into effect for two weeks (until April 9) that prevents the selling broker, buyer and inspector from inspecting the property. The parties agree in the addendum that any contingency or condition will be extended for ten days should a force majeure event occur. The original contingency would have expired on Monday, April 6, but the addendum would extend the contingency to April 16, including any related notice and response timeframes.   

 

Obviously, dealing with force majeure events are circumstances unfamiliar to the industry. Calculating the extension of contingency time periods due to a force majeure event may be complicated. Brokers are encouraged to cooperate and work together to ensure that the parties have the same expectations with regard to timelines, and any impact a force majeure event may have. 

The addendum provides that, if through no fault of the parties and by reason of a force majeure event, the sale of the property cannot be timely closed on the Closing Date, the date will be extended for an agreed upon period of time – the “Extended Closing Date.” If the sale of the property cannot be timely closed by the Extended Closing Date, the transaction terminates and the earnest money will be refunded to the buyer.

CONCLUSION

CBA recommends that all brokers working on pending transactions consider amending the transaction with this or an equivalent addendum to address force majeure events. Certainly, brokers entering into new transactions should recommend their clients consider a force majeure addendum. 

If you have any questions, please call us at (425) 820-3348, send us an email, or start an online chat.


IMPORTANT COVID-19 UPDATE:

CBA STAFF WORKING REMOTELY AND ALL CLASSES CANCELED THROUGH APRIL

At the Commercial Brokers Association, we're concerned about the impact of the COVID-19 virus on our staff and our members and have been following the rapidly changing situation closely.

Due to the local impact of the COVID-19 pandemic and our need to keep our employees and their loved ones as safe and as healthy as possible, CBA’s staff will be working remotely until at least Tuesday, April 7th, 2020. We are also canceling ALL classes through April. 

CBA has the technology and phone systems infrastructure to ensure all our services, support, and applications will run smoothly during this time. Our members should not notice any difference in support or interruptions in our services.

We will reschedule canceled classes at a later date if feasible. If you registered for a canceled class, you received a message directly from our Education Manager, Kristin Austin. Please email or call Kristin at 425-952-2739 about options to reschedule, use your credits for a future class, or obtain a refund.

If you have signed up for a class or event through one of our managed associations, please visit the association website directly for updates on their classes and events.

Certified Commercial Investment Member (CCIM) Washington State Chapter

CoreNet Global Washington State Chapter 

Commercial Real Estate Women (CREW) Washington State Chapter 

The Institute of Real Estate Management (IREM) Washington State Chapter 

The Society of Industrial and Office REALTORS® (SIOR) Washington State Chapter 

Washington State Commercial Association of REALTORS® (WSCAR)

For classes and events scheduled after April 30, 2020, please remember to check our full schedule for up-to-date information BEFORE you leave to attend. 

CBA DATA FEATURED IN PSBJ

CBA’s CMA data and analysis on commercial property sales over the past 10+ years was recently featured in the Puget Sound Business Journal's Real Estate section. This underscores the quality of our data and terrific work done by the entire staff. Watch for additional data and analysis from our team in future editions!

The numbers highlighted are for King, Pierce, and Snohomish counties. To see a more in-depth version that also contains Kitsap, Spokane, and Thurston counties, click here

 

DRIVE TRAFFIC TO YOUR LISTING AS A FEATURED PROPERTY 

Featured Properties get front page, above-the-fold promotion on our website, which means they are one of the first things people see and they get increased click-throughs! 

 

We offer one-week and four-week packages. Members who sign up for four weeks can switch out their listings once a week.

 

To sign up, fill out our order form today! 

 

GET YOUR 2020 CBA FLEX PASS NOW!

Ring in the new year by getting a head start -- and saving some cash -- on your 2020 education!

 

Back by popular demand, and exclusively for CBA members, we are continuing to offer our 4-Class Flex-Pass for our live classes. Use it now and throughout 2020 to attend classes that match your interests and career goals.

 

Earn continuing education credits for your biennial license renewal, add to your skills and knowledge, and network with colleagues. Good for 3-hour and 4-hour classes only.

 

$250 CBA Members Only

 

For more details, contact us at register@commercialmls.com or

800-275-2522.

 

GET YOUR FLEX PASS NOW

 

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