Home Commercial Oak Street Real Estate Capital Buys 16,000 SQFT Building in Tukwila for...

Oak Street Real Estate Capital Buys 16,000 SQFT Building in Tukwila for $13.4MM

Oak Street Real Estate Capital, Tukwila, Puget Sound, Chicago, Maverick Gaming, Riverside Casino, King County, Duwamish River, Foster Golf Links, Fortune Casino Tukwila, Evergreen Gaming Corporation, Palace and Chips Casino, Lakewood, Macau Casino, Kirkland

By Kate Snyder

Another building housing a casino in the Puget Sound region has traded hands in a transaction involving the same two companies that have made multiple deals for casino properties throughout the area in recent months. The building that is home to the Riverside Casino in Tukwila, along with three parcels of vacant industrial land located at the same address, was sold for $13.4 million, or about $815 per square foot, according to King County public records. The seller was an entity affiliated with Maverick Gaming, and the buyer was an entity affiliated with Chicago-based Oak Street Real Estate Capital. Oak Street has purchased at least two other casino properties from Maverick Gaming within the past year, one of which was a deal recorded earlier this month.

According to information from Maverick Gaming, the firm entered into a leaseback agreement with Oak Street and will continue operating the casino.

Located at 14060 Interurban Ave. S, the 16,460 square foot building sits on almost three-quarters of an acre. The vacant industrial land surrounding the property totals approximately 1.16 acres, property records show. The property is next to the Duwamish River and Foster Golf Links, and Fortune Casino Tukwila sits across the street.

The Riverside Casino is one of several properties that Maverick Gaming acquired when the firm purchased Evergreen Gaming Corporation in December 2022, according to an announcement from Maverick. Under terms of the transaction, Maverick Gaming paid $80.5 million in a cash deal for all of Evergreen Gaming’s shares and assets, which included four cardrooms in Washington. Among those properties were the recently-sold Riverside Casino as well as the Palace and Chips Casino in Lakewood, which was purchased by Oak Street earlier this month.

Last year, Oak Street also bought from Maverick the 10,747 square foot Macau Casino in Lakewood for $22.1 million, or about $2,056 per square foot, according to previous reporting from The Registry. That property is located at 9811 S. Tacoma Way.

Headquartered in Kirkland, Maverick Gaming owns and operates more than 30 casinos, restaurants and hotels across Nevada, Washington and Colorado, according to the firm’s website. The firm was founded in 2017, and Maverick Gaming assets total more than 360 tables, 2,700 slot machines, 1,300 hotel rooms, 50 restaurants and approximately 3,500 team members.