By Jack Stubbs
The Jonesco Business Park, a roughly 42,000 square foot office park located just east of downtown Kirkland, sold on December 4th for $14.5 million, or around $345 per square foot, King County records show. The buyer was Jonesco Investors 2019 LLC based in Seattle and the seller was Par 5 Jonesco Business Center LLC, an entity affiliated with Bellevue-based PAR 5 Investments.
Located at 8700 – 8920 122nd Ave. NE, Jonesco Business Park is a three-building property that totals 42,022 square feet and sits on just over two acres, according to the listing on commercialexchange.com. Built in 1987, Jonesco includes four dock-high doors and 29 grade-level doors.
The three-building campus is about three miles west of downtown Redmond, and also offers convenient access to I-405. According to Google Maps, some of the current tenants at the property include Stage Auto Center and Architectronics.
Several commercial asset in the King County city of Kirkland have sold over the last several months, the most recent of which sold on the same day as the Jonesco property. Also on December 4th, a two-story, 13,800 square foot office property located in the Totem Lake neighborhood of Kirkland sold for $18 million, with LMJ Enterprises LP acquiring the property from Redmond-based S & I of WA LLC.