Seattle & Northwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
PJP Grabs Two Everett Office Buildings for $14M
Mercer Island-based Pietromonaco Jackson Properties (PJP) has purchased the Everett Mall Office Park II and III, a pair of office buildings on 7.8 acres in Everett, WA. The Puget Sound Business Journal reports the properties were bought from Pflueger-Everett Holdings, LLC for $14.25 million or $78-per-square-foot.
The buildings, which are 68% leased, are scheduled to be renovated this year. PJP says it will redesign the interior and exterior common spaces, which were built in the 1980’s, with Ware Malcomb as the architect. CBRE’s John Bauder, Ric Brandt and Erik Larson represented the buyer and seller, and are also the leasing agents.
According to PJP partner Danny Jackson, the purchase was a great opportunity and the suburban office project will serve the community going forward. With the purchase, PJP has added 182,000 square feet of commercial real estate to the 2.2 million it already owns in the Puget Sound region.
- ◦Sale/Acquisition
