After its 2019 delivery, the newly constructed Redmond Drivers Club is under new ownership. King County public records show that the luxury vehicle storage center, located at 7310 185th Avenue, was sold to a local buyer in a deal worth $20.5 million, or approximately $309 per square foot.
According to public records, the property was purchased by a limited liability company associated with Ron Danz, managing principal at Seattle-based Northwest Commercial Real Estate Investments and founder of RGD Property Services, LLC.The seller is a limited liability company associated with Wayne M. Perry, who also developed the property.
Development of the project dates back to 2017 and included the construction of a 66,235 square-foot commercial building, which acts as both a social club and secure storage center for luxury vehicles. The project was designed by TVA Architects and acts as a sister location to a second Drivers Club in Scottsdale, AZ.
“The Drivers Club is a project designed so members can connect through their shared passion for cars. Challenged to deliver the project as lean as possible, the design team chose to incorporate a pre-engineered steel frame for the major structural system, which was practical and efficient given the project constraints,” a landing page for the building on TVA Architects’ website states.
The property is located in Northeast Redmond, near a mix of industrial and office assets. It’s direct neighbor is Ferrari of Seattle, with other neighboring properties serving major companies like Microsoft, FedEx and StorQuest Self Storage.
Redmond has seen a fair amount of activity in the past several months. Most recently, the 41,900 square-foot Oakridge Business Park was sold to a local buyer for $14.2 million, or approximately $338 per square foot. Lennar Multifamily also purchased a 3.68-acre industrial redevelopment site in Lennar for $16.75 million with plans for a 284-unit multifamily development. Additionally, The Evans Company sold its 60,030 square-foot Evans Industrial Park for $26.7 million, or about $445 per square foot.