$8,000,000 | ~30,000 SF Building / 78,144 SF Land | $267 PSF Building / $102 PSF Land
Seller: Pine Forest Business Parks LLC
Buyer: Northpark Investors LLC
AGM acquired this two-building business park located at the entrance to the Spring District (immediately adjacent to the 124th Avenue exit off WA-520) as a syndicated investment.
This latest acquisition is slated to undergo both interior and exterior updates (including new paint, new signage, parking lot resurfacing/re-striping, etc.), as well as re-tenanting and tenant improvements throughout 2020 and 2021.
AGM and sister property management company Phillips Real Estate are both relocating to North Park Business Center, with Phillips Real Estate scheduled to move into the second floor of North Park’s west building in October.
Troy Gessel and Jim Reed acquired this property on behalf of Northpark Investors LLC.