By Kate Snyder
After purchasing the property barely a year ago, Lift Partners has sold a 35,384 square foot industrial site in Seattle for $21 million, or approximately $593 per square foot, according to King County public records. An entity affiliated with the firm was listed as the seller, and the buyer was an entity affiliated with Swickard Auto Group, a national dealership that has been acquiring multiple properties in the Puget Sound region in recent months.
The property is located at 811 S Massachusetts St. and consists of an office building and a warehouse, property records show. It was originally built in 1952 and sits on a 2.31 acre lot, just west of Interstate 5 and south of the I-5 interchange with Interstate 90. Mercedes Benz of Seattle, another Swickard-owned dealership, is located less than half a mile from the property.. The neighborhood is also home to Lumen Field and T-Mobile Park, and retailers ranging from Starbucks Reserve and the Home Depot to Zips Cannabis.
Founded in 2015, Lift Partners is a full-service real estate investment company based in San Francisco. The firm acquired the Seattle property in December 2021 from Qwest Corporation, which is owned by Lumen Technologies, for $14.5 million, according to The Registry’s previous reporting. According to the firm’s website, it has $1 billion and seven million square feet in assets under management across the Seattle region, Bay Area and Southern California. Additionally, the firm’s joint venture partners include major firms like PCCP, Blackbird and Acre Valley, among others.
With offices across the country, Swickard Auto Group owns several dealerships in Washington, including Seattle, Edmonds, Bellevue and Bellingham, according to the firm’s website. It also owns dealerships in California, Oregon, Texas and Alaska.
In November 2022, Swickard purchased a number of property sites, including a car dealership, in a $25 million deal. The seller was listed as an entity affiliated with Byers Properties, LLC. The major property in the deal, Volvo Cars Seattle, is a 3,670 square foot showroom located on almost half an acre at 2700 NE 55th St. in Seattle’s Ravenna neighborhood. Other addresses included in the sale were 2719 and 2611 NE 55th St.; 2610 NE 54th St.; 5403 27th Ave. NE and 14307 Lake City Way NE, all in Seattle.