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SeaTac’s Olympic Industrial Park Changes Hands
Wells Fargo Wealth Management, on behalf of an undisclosed 1031 exchange buyer, purchased Olympic Industrial Park from Avenue 55 for $12.95 million. The two-building, 94,739-square-foot industrial complex is located just outside downtown Seattle in SeaTac at 19111 Des Moines Memorial Dr. and 1200 S. 192nd St.
The buildings are located between the Ports of Seattle and Tacoma, near SeaTac International Airport and key transportation connections. 19111 Des Moines Memorial Dr. is a warehouse property fully-leased to Alaska Airlines/Horizon Air, Seattle Air Cargo, BlueStar Refreshment Services. Built in 1983 and renovated in 2015, the 75,588-square-foot building features 26 loading dock doors, seven grade levels, and 20-foot clear height ceilings.
The second building on 192nd Street is a 20,548-square-foot, three-story, office property built in 1983, renovated in 2015 and leased to the International Rescue Committee, Carmichael International Service, Argent Express Group, and Sea & Air Transport.
Colliers International’s Scott Alan and Patrick Mullin represented the seller.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
