Home Finance MTorres Sells 65,344 SQFT Everett Warehouse for $21.1MM

MTorres Sells 65,344 SQFT Everett Warehouse for $21.1MM

MTorres, Everett, Formost Fuji Corporation, Snohomish County, Paine Field Airport, Boeing, Pepsi, Fluke, Trident Seafoods, Safran, Airbus, Dassault, Embraer, Woodinville, Puget Sound
Courtesy of MTorres

By Kate Snyder

With a number of sales transactions recorded in the past month, Everett is coming into the new year with a strong level of activity. One recent transaction saw a 65,344 square foot industrial building trade hands for $21.1 million, or approximately $322 per square foot, according to Snohomish County public records. The seller was MTorres, a global manufacturer of aerospace machinery. The property was one of MTorres’ locations in the United States. The buyer was an entity affiliated with Formost Fuji Corporation, a manufacturer in the packaging machine industry.

Kidder Mathews Executive Vice President Zach Vall-Spinosa and First Vice President James Leptich represented Formost Fuji in the sale.

“It was a pleasure working with the team at Formost Fuji on this acquisition,” Vall-Spinosa said. “We’re happy to have helped them identify and acquire a property they can call home immediately that also gives them room to expand when the need arises.”

The site is located at 905 80th Street SW and consists of a three-story warehouse that was built in 2017 and sits on 14.9 acres, according to LoopNet. The site is located near Paine Field Airport and surrounded by major companies like Boeing, Pepsi, Fluke, Trident Seafoods and Safran. 

The building is described on LoopNet as an “industrial, flex, office building custom-built for aerospace manufacturing company MTorres.” The three levels of office space total 34,260 square feet and one level of warehouse, shop/production space totals 31,084 square feet. The site also offers warehouse expansion potential capacity of up to 32,000 square feet, and LoopNet notes that ideal property uses for owner-users or investors include manufacturing, warehouse, distribution and assembly production.

MTorres is headquartered in Spain and has offices around the world. According to the firm’s LinkedIn page, the location in Everett is a “world wide leader and manufacturer of specialized aerospace manufacturing machinery, tooling and automation systems integrator.” The company’s products include milling, drilling, routing, laser scribe and surface milling machines as well as a complete line of aerospace tooling, such as jigs, fixtures, storage systems, transporters and material handling systems. The firm’s website cites partnerships with Airbus, Boeing, Dassault and Embraer.

Since 1973, Formost Fuji has been based in a 50,000 square foot facility in Woodinville. The firm is a “leading designer and innovator in the packaging machine industry worldwide,” according to its website. Industries it serves include bakeries, frozen foods, medical and pharmaceutical, produce and textiles.