By Jack Stubbs
Office space remains at a premium in the Puget Sound region, and the recent sale of two office buildings in Redmond reflects that the commercial market is as busy as ever.
On Thursday, December 28th, two office buildings in Redmond sold for $20 million, or roughly $276 per square foot, according to public records filed with King County. The buyer was Willow Run LLC, an entity affiliated with Menlo Park, California-based Facebook. The seller of the property Redmond-based Crane Aerospace Inc., the parent organization of Crane Aerospace and Electronics.
Neither the buyer nor the seller of the property responded for comment about the details of the transaction before publishing of this story.
The two office buildings, used for a combination of high tech/flex and industrial uses, total 72,287 square feet. The first structure is a 34,879 square Class C industrial engineering building constructed in 1984. The three-story high tech/flex office building sits on a roughly 8.5-acre parcel of land.
The second office building, a two-story structure also built in 1984, totals 37,408 square feet. The building is currently occupied by Crane Aerospace and Electronics, a company founded in 1999 that operates worldwide and provides products in the aerospace, defense, commercial, transportation and space industries. According to its web site, the company manufactures a variety of power solutions and components including engines, landing gear and satellites, among others.
Located at 10201 & 10301 Willows Road NE in Redmond, the property is roughly 2.5 miles to the north of downtown Redmond and about six miles to the northeast of Kirkland. The property sits right on the edge of the Willows Run Golf Complex and is about three miles from access to Interstate-405.