Smartcap, a commercial real estate investment company, recently purchased Quadrant I-5 Corporate Park, Building A, for $14.4M from Shelby Co. LLC.
The 75K SF building is at 738 134th St. SW in Everett. The two-story Class-A building sold at a 7.2% cap rate and is 87% occupied.
The purchase follows Smartcap’s $12.5M buy of the 68,575 SF Building B in September.
“We are thrilled to have acquired nearly 145,000 square feet of office space in this area for an excellent price,” Smartcap President and co-founder Tim Shoultz said in a statement. “With the increased traffic out of Paine Field and the general growth in the area, we believe the long-term viability for these properties will continue to increase.”
For the full story, go to Bisnow.
©Copyright 2018 Bisnow. All Rights Reserved