Home Commercial Mukilteo’s Sterling Business Park Sells for $25MM

Mukilteo’s Sterling Business Park Sells for $25MM

Sterling Realty Organization, ALCO Mukilteo Business Park LLC, Mukilteo, Boeing, Paine Field, Bosa, Sterling Business Park
Courtesy of SRO

By Meghan Hall

An office park in the Seattle suburb of Mukilteo has traded hands amidst an increase in commercial real estate activity in the northern Puget Sound. In a deal that closed last week, Sterling Realty Organization sold the Sterling Business Park for $25 million. The buyer, according to public records, is an entity affiliated with ALCO Mukilteo Business Park LLC.

The property is located at 8229 44th Ave. W and totals 108,204 square feet, according to Sterling Realty’s website. The property was originally constructed in 1980 and sits on 8.77 acres.

“Sterling Business Park is conveniently located near Boeing and Paine Field and across from the Future of Flight Museum. The park features ample parking and onsite food services,” states the website. “Sterling Business Park can accommodate most office, flex, and light industrial tenant uses.”

A lot of changes have come to Mukilteo over the past few months. Last fall, FedEx finalized an agreement with Boeing to take over operations at Paine Field after Boeing halted production at the site. The property totals 19 acres. In June of 2021, Boeing also sold off its nearby Bomarc Complex to Bosa Development for $35 million. 

Most recently, Mukilteo celebrated the opening of a new, $187 million multimodal ferry terminal. The new project replaces the original terminal, built in 1957. It is expected to move more than two million vehicles and four million riders annual in conjunction with State Route 525. As the Puget Sound grows, ridership is expected to increase 100 percent over the next 20 years during commute times.