Home Commercial 15-Parcel Property at SeaTac Airport in Seattle Sells for $32MM

15-Parcel Property at SeaTac Airport in Seattle Sells for $32MM

By Jack Stubbs

Activity is occurring near the SeaTac, as a 15-parcel site—that contains several commercial buildings—recently changed hands.

On Tuesday, January 2nd, a 15-parcel property just south of SeaTac airport sold for $32 million, according to public records filed with King County. The buyer of the asset was AAG Real Property LLC, an entity that has the same address as Alaska Airlines, and the seller was a private entity affiliated with Gordon C.Y. Tang based in Bellevue.

Located at 19225 International Blvd. near SeaTac airport, the property is comprised of 15 individual parcels. The first parcel contains a 37,104 square foot 2-story structure built in 1955 that is home to an Econo Lodge motel, and the second parcel is a parking lot. The third parcel contains another 2-story 5,760 square foot Class C structure built in 1959 that is also associated with the motel. The fourth and fifth parcels comprise two commercial parking lots. The sixth parcel, totaling 15 acres and located at 19639 28th Ave. S., includes a 24,532 square foot office building built in 1967. The rest of the parcels comprise one parking lot, vacant plots of land, and a couple single-structures set for tear-down.

Adjacent to SeaTac airport, the site is also eight miles to the south of downtown Renton. Additionally, the property is roughly six miles north of Kent and approximately a mile from access to Washington State Route 99.

It is unclear what plans the buying entity has for the 15-parcel property near the active SeaTac area. However, a new 490,000 square foot office park called Project Copper River is planned for the site, according to a statement by the Puget Sound Business Journal. According to the project plans filed by Seneca Group at City Hall, Project Copper River will tentatively include four six-story office office buildings, according to the statement.

The Copper River project is set to be completed in four phases. The first phase, which will include one office building and an eight-story parking garage, will begin imminently, according to the submitted project plans. According to Gary Schenk, building services division manager with the city of SeaTac’s community and economic development department, the timing for the subsequent three phases will unfold over the next ten years. At this point, however, the preliminary project plans are still highly conceptual and subject to change as the planned development takes shape over the coming years.