By Kate Snyder
With many real estate transactions recorded in the past six months, Everett continues to be a place investors show interest in. In another recent transaction, the Everett Mall Office Park traded hands for $14.3 million, or approximately $76 per square foot, according to Snohomish County public records. The seller was an entity affiliated with Pflueger-Everett Holdings, LLC, in Bend, Ore., and the buyer was an entity affiliated with Pietromonaco Jackson Properties, a real estate investment firm located in Mercer Island.
Located at 906 & 1000 SE Everett Mall Way, the two buildings involved in the sale are a four-story structure built in 1986 and totaling 71,994 square feet and a six-story structure built in 1988 totaling 115,110 square feet, according to LoopNet. The property site is just west of the Everett Mall and Interstate 5. Part of the city’s Twin Creeks neighborhood, other nearby attractions include the Cypress Lawn Memorial Park, Target, Costco Wholesale and Walmart.
According to its LinkedIn page, Pietromonaco Jackson Properties invests, owns, manages and leases commercial real estate throughout the Pacific Northwest. The firm also owns and operates industrial, office and retail properties “with a focus on providing the highest level of respect and service to our tenants, vendors, partners, employees, and brokerage community.”
“Our focus on providing the highest level of respect and service to our tenants, vendors, partners, employees, and brokerage community is the foundation of what we aspire to do,” the company’s website states. “We deliver on our promises. We maintain a set of best practices that we execute with care, pride, and consistency, allowing everyone to win.”
Recent transactions in Everett have included at least one other office property.
Earlier this year, The RMR Group sold a two-building office property for $31.5 million, or about $281 per square foot, according to The Registry’s previous reporting. That property, located at 840 N. Broadway, was acquired by Everett WA I SGF LLC, an entity affiliated with Boyd Watterson. With a total of 111,908 square feet, the buildings separately are 71,780 and just over 40,100 square feet in size.