Home Commercial American Life Sells 181,577 SQFT Building in Seattle’s Industrial District for $29.2MM

American Life Sells 181,577 SQFT Building in Seattle’s Industrial District for $29.2MM

American Life Inc, King County, Puget Sound, Seattle, Foushee and Associates, Urban Storage, Original Rainier Brewery, GS Building Supply, The Home Depot, Ghostfish Brewing Company, SoDo, Bellevue

By Kate Snyder

Seattle’s industrial district is continuing to attract attention from investors. In one recent transaction, a 181,577 square foot building in Seattle’s industrial district traded hands for $29.2 million, or approximately $160 per square foot, according to King County public records. The seller was an entity affiliated with American Life, Inc., a real estate development company, and the buyers were entities affiliated with Foushee and Associates, a construction firm, and Urban Storage, a self-storage operator.

Built in 2017, the property is located at 3100 Airport Way S, just west of Interstate 5 and near Seattle’s SoDo neighborhood. The historic Original Rainier Brewery is located on the same site, and businesses in that area include GS Building Supply, The Home Depot and Ghostfish Brewing Company.

Founded in 1987, Urban Self Storage, Inc., has 75 facilities in operation throughout Washington, Oregon, New Mexico and Arizona, according to the firm’s website. Services offered include a wide variety of different sized storage units, heated units to help prevent moisture, truck rentals and moving and packing supplies.

Foushee was established in 1977 and is based in Bellevue, according to its website. The firm has construction experience in a variety of projects, including business parks, healthcare, education, industrial, office and retail.

American Life is based in Seattle and has a long investment history in Seattle’s SoDo neighborhood – just two years ago, it purchased the building where the company is currently headquartered, at 270 S. Hanford St., which is located in the SoDo neighborhood, according to The Registry’s previous reporting. The firm specializes in real estate developments and EB-5 investments.

“We invest EB-5 funds in exciting projects that help revitalize communities, create jobs, appreciate in value and ensure successful immigration to the United States,” the firm’s website states. “American Life has completed EB-5 funded projects worth $1.5 billion in market value while helping thousands of client families from 50 countries successfully invest in and relocate to the United States.”