By Jack Stubbs
On Monday, June 4th, a Class A office/flex building in Snoqualmie sold for $16 million, or approximately $209 per square foot, according to public records filed with King County. The buyer was Snoqualmie Parkway Holdings LLC, an entity based in Redmond. The seller was Nexus Snoqualmie LLC, an entity affiliated with Michael J. Reidy and Nexus Properties Inc. based in San Diego.
The seller did not respond to calls for comment in time for the publishing of this story.
Brian Toy and Tom Wilson in Cushman & Wakefield’s Bellevue office are the listing brokers for the property.
The two-story build-to-suit Nexus Building, located at 8226 Bracken Place SE., is a Class A office building constructed in 2001 that totals 76,661 square feet, according to the property flyer written by Cushman & Wakefield. Set on 4.1 acres, the property is located within the Snoqualmie Ridge Business Park, a larger 89-acre business campus. The business park zoning allows for a wide variety of uses including office, light industrial, warehouse and tech. According to Wilson, Building A is approximately 97 percent leased by three tenants, the larger two of which are Zetec Inc. and Sherwin Williams.
The property is located in close proximity to the I-90 corridor, allowing access to Seattle, Bellevue and Federal Way in less than 30 minutes, according to the flyer. The asset also sits in close proximity to various recreational and retail opportunities and is three miles east of Snoqualmie.