Home Finance Sabey Properties Purchases Park Place Auto Salon in Bellevue for $15MM 

Sabey Properties Purchases Park Place Auto Salon in Bellevue for $15MM 

Sabey Properties, Park Place Auto Salon, Bellevue, CBP Manager LLC, MRM Scan LLC, Evans Industrial Park, Safeway, Coca Cola

By Catherine Sweeney 

Sabey Properties, a Tukwila-based real estate investment and development firm, has recently expanded its presence across the Puget Sound. In a transaction that closed on June 21, the company acquired a 28,392 square-foot industrial asset in Bellevue for $15 million, or about $528 per square foot. According to King County public records, the property was sold by two entities affiliated with CBP Manager LLC and MRM Scan LLC.

The property is located at 1807 130th Avenue NE and referred to as Park Place Auto Salon for the single tenant who occupies the building. The local company provides a number of cosmetic services for vehicles, including all-hand car washes, interior detailing, paint touch ups, upholstery repairs, window tinting and more. The company was founded in 1980 and has occupied space in the building throughout that time. 

The building is located in a primarily commercial area just off State Route 520 and east of Interstate 405. Nearby are a number of industrial buildings, with the Evans Industrial Park directly south of the property. Major companies, such as Safeway and Coca Cola, also operate industrial facilities nearby. 

It remains unclear as to whether or not Sabey Properties has any further development plans in store for the auto salon. However, the company specializes in the development of technical spaces for data centers. The company also specializes in spaces for the medical, life sciences, education, government and military sectors. 

Founded more than 40 years ago, the company has designed, developed and operated more than 30 million square feet of properties across the Puget Sound region.