By Kate Snyder
With a wide variety of recent real estate activity in Redmond, another sale on the office side shows further that the city is a continued source of acquisitions. The Quadrant Tech Center Building C was purchased for $14 million, or $440 per square foot, earlier this month by an entity affiliated with Par 5 Investments, according to King County public records. The seller was listed as an entity affiliated with Nicholson Manufacturing.
The one-story building is located at 12226 134th Court NE in Redmond and is 31,765 square feet on a 1.91-acre site, according to public records. Built in 1990, it consists of high-tech commercial and industrial space. Nearby businesses include Northwest Aerials, Spectralux Avionics and several plumbing services and plumbing supply stores, according to Google Maps.
Nicholson Manufacturing was founded in 1948 in Seattle but is now headquartered in British Columbia, Canada, according to the firm’s website. The company’s focus is on designing and building “the world’s finest ring debarkers.”
Par 5 is based in Bellevue, according to the group’s website, and is a residential investment firm.
A number of recent sales in Redmond have spanned from residential to commercial to industrial. One recent sale was the acquisition of Overlake Square by an entity affiliated with Carmel Partners for $28.5 million, or approximately $818 per square foot, in early October, according to The Registry’s previous reporting. The seller was an entity affiliated with Granite Hall Partners, an investment firm based in Chicago.
In August, New York-based LCN Capital Partners purchased the Redmond Hilltop Office Campus for $90.1 million, or about $503 per square foot. The three-building property is located across several addresses at 6464, 6222 and 6244 185th Avenue NE in Redmond. Earlier this year, Amazon signed a lease to occupy the 178,957 square foot campus, according to previous reporting from The Registry.