Seattle-based property and asset management firm InCity Properties purchased a warehouse building, located in Rainier Valley on the south end of the First Hill and Capitol Hill neighborhoods of Seattle, for $10.3 million. InCity acquired the warehouse space from an LLC associated with Mercer Island real estate investor John Pietromonaco of Pietromonaco Properties.
The building is currently home to the Seattle Bouldering Project, which offers bouldering, fitness and yoga, and youth programs.
Swensen Say Faget Structural Engineering was behind the project when it was originally converted from a warehouse into a climbing facility. DJA Architects also worked on the project, serving as the architecture firm.
“Upon being approached by two entrepreneurs with the ambitious request to design one of the premier rock climbing training facilities in the world, we set to work employing the latest design technologies to develop the complex geometries the owners were after,” according to the DJA Architects website. “Collaborating with a highly talented team of engineers, welders and climbers, we organized the 17,000 square foot warehouse into the greatest bouldering gym on the planet.”
InCity Properties manages a number of residential and commercial properties across the Puget Sound including buildings in Redmond, Bellevue, Everett, Seattle, Kirkland and Woodinville.
The seller originally acquired the property for $6.75 million in May 2007 from Robinson Midway Property and Robinson Times Properties.
Ross Kilinger and Tim Foster with Kidder Mathews represented the buyer in this off market deal.