Another major chunk of Admiral District commercial property has a new owner. Nine months after Wells Fargo sold its building on the northeast corner of California/Admiral after closing its branch there, the Admiral Safeway site – including the neighboring strip mall – has a new owner too. You might recall that the rebuilt store opened in 2011; one year later, Safeway sold it to a Southern California investment firm for $30 million. Now, after 13 years, that firm has sold it to a Chicago firm for $35.4 million. The sale was first reported by regional business publications this week, and while it’s not yet reflected in the King County Assessor’s Parcel Viewer lookup, we confirmed it via documents elsewhere in the King County online system. The new owner is SSV Admiral Junction LLC, and the name on the documents is Patrick Zilis, co-CEO of Chicago-based Hometown America, which specializes in residential developments, particularly those with manufactured homes on leased land (aka mobile-home parks). We’re of course inquiring about the company’s plan for the property; no proposals are in the city system so far, but the site has long been zoned for mixed-use development up to 7 stories. The Admiral Safeway property had been on the market for at least three months.

