SEATTLE—Vulcan Real Estate has sold Alcyone Apartments, an eight-story building featuring 161 apartment homes, to Chicago-based Equity Residential for what GlobeSt.com has learned is $61 million. Developed in 2004 in the South Lake Union submarket here, the property was the first LEED-certified, market-rate multifamily building in Washington State. CBRE led the transaction with a team that included Frank Bosl, Jon Hallgrimson and Eli Hanacek. Vulcan intends to invest the funds from the property sale toward its continued development efforts.

SPARKS, NV—Sierra Commerce Park, a 1.5-million-square-foot bulk industrial project located between E. Greg St., E. Glendale Ave. and Kleppe Ln. here, has been sold by an undisclosed seller to LBA Realty for $49 million. The NAI Alliance industrial properties group of Michael Nevis, Dave Simonsen, Michael Hoeck and Steve Kucera facilitated the sale. NAI Alliance will continue to act as leasing broker for the project on behalf of the new owner.

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