Home Commercial Oakridge Business Park One in Redmond Sells for $14.2MM

Oakridge Business Park One in Redmond Sells for $14.2MM

Marcus & Millichap, Redmond

REDMOND, WA, November 1, 2021 – The Leibsohn Group of Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Oakridge Business Park One, a 41,900-square foot industrial property located in Redmond, WA, according to Joel Deis, regional manager of the firm’s Seattle office. The asset sold for $14,200,000, or just around $339 per square foot.

Brian Leibsohn and Raymond Vara, commercial investment specialists with The Leibsohn Group in Marcus & Millichap’s Seattle office, represented the Seller on the sale and also procured the Buyer, a local prominent investor.Oakridge Business Park One is located at 17965 NE 65th St in Redmond, WA.  The property was fully leased to a single tenant on a long-term lease.  Plans for the property include redevelopment.  

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.