The McKesson Building, located at 710 132nd Street in Everett, Washington, has sold in an off-market deal for $16,490,000, or just under $150 per square foot. Kidder Mathews commercial real estate brokers, Matt Hagen and Matt Henn, represented the seller, Galt, a private investment group in the transaction. The buyer, Gensco, a wholesale distributor and manufacturer of HVAC equipment and supplies, was represented by Laura Fox, Jason Bloom, and Todd Gauthier, also with Kidder Mathews.
The McKesson Building is a 110,000 square foot stand-alone industrial building on five acres, located just off I-5 in south Everett.
“This transaction was truly a win-win for both the buyer and seller. The seller, who had owned the building since it was built in 1976, was pleased with the sales price, and the buyer acquired a hard to duplicate facility that will accommodate their long-term growth in the area,” said Hagen. “We continue to see upward pressure on pricing and rental rates in the south Snohomish County industrial submarket. Vacancy rates remain at historic lows with modest new construction absorbing the demand,” he said.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with 800 real estate professionals and staff in 22 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $9 billion in transactions, manages over 70 million square feet of space, and conducts over 1,600 appraisals annually. For more information, visit kidder.com.