Home Finance Builders Firstsource Sells 110,698 SQFT Industrial Property in Everett for $14.7MM

Builders Firstsource Sells 110,698 SQFT Industrial Property in Everett for $14.7MM

Everett, Snohomish County, Builders Firstsource, Mina Properties VIII LLC, MTorres, Formost Fuji Corporation, Underwood Gartland Development, FedEx

By Catherine Sweeney 

More industrial space is trading in Everett. According to Snohomish County public records, a property located at 3200 35th Ave. NE was sold by an entity linked to Irving, Texas-based Builders Firstsource, a building materials supplier. The property was acquired by Mina Properties VIII LLC, a Federal Way-based entity linked to Hadi Mirzai for $14.7 million, or about $132 per square foot. 

The site is just over 28 acres and is home to 110,698 square feet of industrial space, according to a former listing for the property on Loopnet. 

The site is situated within close proximity of the Union Slough and near a number of other industrial users, including a nearby lumber yard, a concrete plant and a composting facility. Interstate 5 and State Route 529 also run within close proximity of the property. 

Everett has seen several other industrial deals within the past year.

In January, a 65,344 square foot industrial building traded hands for $21.1 million, or approximately $322 per square foot, according to The Registry’s previous reporting. The seller in that transaction was MTorres, a global manufacturer of aerospace machinery, which sold the property to an entity affiliated with Formost Fuji Corporation, a manufacturer in the packaging machine industry. The property is located at 905 80th Street SW and consists of a three-story warehouse on  almost 15 acres of land. 

In another transaction that closed in late 2022, a 122,952 square foot FedEx warehouse on the city’s southern end sold for $39.5 million, or about $321 per square foot. Located at 7301 Hardeson Road, the property was acquired by an entity affiliated with Midway Logistics Center, LLC, which shares an address with HCA Property Management, Inc. The seller was an entity affiliated with Underwood Gartland Development.