Seattle, Wash. (February 5, 2018) – SMARTCAP, a commercial real estate investment company, has added Quadrant I-5 Corporate Park, Building A, a 74,974 square foot office building to their portfolio, for $14.4 million. Kidder Mathews commercial real estate brokers, Todd Battison and Ken Hirata, represented SMARTCAP in the purchase. The seller, Shelby Company, LLC was represented by Battison, Andy Miller, and Matt Hagen, also with Kidder Mathews.
The two-story, Class A office building is located at 738 134th Street SW in Everett, Washington. The building sold at a 7.2% cap rate, and was 87% occupied.
In September of 2017, SMARTCAP worked with Battison and Hirata when they acquired Building B, a 68,575 square foot building in the same park, for $12.5 million.
“We are thrilled to have acquired nearly 145,000 square feet of office space in this area for an excellent price. With the increased traffic out of Paine Field and the general growth in the area, we believe the long-term viability for these properties will continue to increase,” said Tim Shoultz, president & co-founder of SMARTCAP.
About SMARTCAP Group
SMARTCAP is a value add commercial real estate private equity firm that has completed over $110 million in total transactions since 2010. SMARTCAP’s primary focus is acquiring value add office, warehouse and multi-family properties in the greater Puget Sound. SMARTCAP strives to be known as a sophisticated real estate investment company and an excellent buyer. For more information, visit smartcapgroup.com.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with over 700 real estate professionals and staff in 20 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $5.6 billion in transactions, manages nearly 50 million square feet of space, and conducts 1,300 appraisals annually. For more information, visit kiddermathews.com.