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February 07, 2018

SMARTCAP Expands Seattle Office Portfolio

Commercial Property Executive

Razvan Cimpean

The Shelby Co. has sold the first phase of Quadrant I-5 Corporate Park, a 144,000-square-foot office campus in Everett, Wash. SMARTCAP Group acquired the 75,000-square-foot asset for $14.4 million. Last September, the Seattle-based company also purchased the second phase of the development.

The two-story Class A office building, located at 738 134th St. S.W. and completed in 1998, includes 10,000 square feet of retail space. Building A was 87 percent occupied at the time of sale. Tenants include Reid Middleton, Option Care and NetScout. The property is situated within walking distance of multiple public transportation options and roughly one mile from Interstate 5 and various restaurants and hotels, including Ming Dynasty Restaurant, Denny's and Holiday Inn Express & Suites.

Kidder Mathews's Todd Battison and Ken Hirata negotiated the deal on behalf of the buyer, while Andy Miller, Matt Hagen and Battison represented the seller. Earlier this year, the firm also brokered the sale of a 19,500-square-foot San Diego industrial building.

For the full story, go to Commercial Property Executive.

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