SEATTLE, WA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Matt McGregor (top right photo), senior vice president, Industrial Group, and Bill Condon (middle left photo), executive vice president, managing director and leader of the company’s Industrial Agency group, represented both parties in the sale of two warehouse/distribution properties totaling 473,838 square feet of space in Sumner and Everett. Columbia Pacific Advisors sold the properties to a private buyer for an undisclosed price.
“These are Class A properties occupied by credit tenants with long-term leases in place,” said McGregor. “They are also well-located near the Ports of Seattle and Tacoma, within highly sought after submarkets for industrial space in the Puget Sound.”
The sale included 4501 W. Valley Highway East, Sumner, and 6617 Associated Blvd., Everett, which were each constructed in 2007 with 30-foot clear heights and include ESFR sprinkler systems.
The first property, 4501 W. Valley Highway East, is a 256,148-square-foot building that was 70 percent leased at the time of sale to Service Paper Company.
The building is situated on 11.8 acres of land with direct access to State Route 167. Additionally, 6617 Associated Blvd. is a 217,700-square-foot building situated on 11.5 acres of land near State Route 526. The property was 100 percent leased at the time of sale to Precor Inc., the anchor tenant, and PODS.
Contact: Julia McCartney, Phone: 714.975.2230
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