Home Commercial North Creek Center in Bothell Sells for $27MM

North Creek Center in Bothell Sells for $27MM

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By Brittan Jenkins

The North Creek Center, located at 20001 North Creek Parkway in Bothell, has sold for $26,750,000 or $275.16 per square foot in a deal that closed June 16th, according to public records filed with the county.

King County public records show three LLCs, Mosupa Properties LLC, associated with Ben Gerlicher, Marilyn Beem and Steve Gerlicher; Lafky Properties LLC, associated with Aaron Lafky of Bend, Ore.; and Child Investments LLC, associated with Andrew S. Child of Bend, Ore., sold the building to NCP Holdings of Redmond.

The North Creek Center, built in 1986, is a 97,216 square foot building that is currently home to Verathon, a Bothell-based provider of medical services and devices. The two-story building, which sits on a three-acre lot, is comprised of about 68,000 square feet of industrial space and about 30,000 square feet of office space. The building also offers surface parking at a rate of 3.5 stalls per 1,000 square feet.

Seattle-based Mastro Properties purchased the building in 2006 for $16 million and then sold it in 2007 for $23 million. Michael R. Mastro of Mastro Properties, went through a bankruptcy in 2009, one of the largest personal bankruptcies in Washington state. Several of his properties in King, Snohomish, Pierce and Thurston Counties went to auction.