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MCA Realty Sells Multi-Tenant Industrial Park for $13.75M
MCA Realty, an Orange County-based real estate investment and management firm, has sold Spectrum Business Park, a multi-tenant industrial park in Federal Way, Washington, for $13.75 million to a private investor who was involved in a 1031 Exchange.
Kidder Matthews’ Andy Miller and Matt McLennan, as well as Kyle Schipper of NAI Puget Sound Properties, represented MCA Realty in this transaction. The buyer was represented by Earney Velton of JSH Properties.
Originally acquired in 2021, the 68,911-square-foot property underwent significant improvements, including paint, parking lot upgrades, roof and gutter enhancements, interior renovations, electrical updates, landscaping, and new signage. The property, constructed in 1978, is located between Seattle and Tacoma, offering freeway access to the South Sound region. It was fully leased at the time of the sale.
This transaction marks the fifth property sold under the MCA Realty Industrial Growth Fund. MCA Realty specializes in commercial properties across the Western U.S.
