WOODINVILLE, Wash. (Feb. 9, 2018) – KBS Realty Advisors of Newport Beach, California announced today the signing of 84,547 square feet in leases at The Park at Woodinville. STS Operating Inc., a leading fluid power distribution company signed a new, 11,295-square-foot lease while, SkoFlo Industries, a leading provider of pressure valves to the oil industry, renewed their 37,451-square-foot lease. Additionally, Strasser Woodenworks, Inc., a bathroom vanities, furniture and accessories store, renewed their 30,093-square-foot lease and expanded their 5,708-square-foot lease at the property.
One of the largest industrial parks in Woodinville, the property is a Class A, five-building warehouse facility located 20 miles outside of Seattle and 15 miles outside of Bellevue. The property has 239,607 square feet of rentable space and can accommodate tenants with varying size requirements.
The Park at Woodinville is easily accessible by State Route 522 and Interstate 405. Additionally, tenants can enjoy the amenities of downtown Woodinville, which is located one mile from the property. Downtown Woodinville offers a variety of shopping, dining and entertainment options, including farmers markets and seasonal music festivals.
“We are excited to welcome STS Operating Inc. and continue our relationships with SkoFlo Industries and Strasser Woodenworks,” said Mark Brecheen, KBS senior vice president and asset manager for the property. “The amenities as well as the prime location provide an attractive offering to our long-standing tenants.”
Since KBS acquired the property in 2014, many improvements have been made to the property including a complete landscape renovation, the addition of covered picnic table areas, benches throughout the park and new signage.
Matt Bohner of JLL represented STS Operating Inc., Eric Meussner of Broderick Group represented SkoFlo Industries, and Brent Jackson and Daniel Seger of JLL represented Strasser Woodenworks in their respective transactions. Derek Heed of Colliers International represented KBS in the three transactions.
KBS Realty Advisors is a private equity real estate company and SEC-registered investment advisor founded in 1992. KBS Realty Advisors and its affiliated companies have completed transactional activity of over $36 billion via 16 separate accounts, six commingled funds, five sovereign wealth funds and seven non-traded REITs. For information, visit www.kbs.com.