By Jack Stubbs
Earlier this week on April 30th, a three-parcel manufacturing/warehouse property in Redmond—which includes two light industrial buildings—sold for $26.4 million, King County records show.
The buyer of the property was LMCPNW Marymoor Holdings LLC, an entity based in Seattle, and the seller was Tamera Wilen Properties LLC, an entity affiliated with Brian Carlson based in Duvall, Washington.
The recent transaction included three separate parcels in Redmond located at 6820 and 6900 176th Ave. NE and 19609 NE 70th St., according to public documents. The first parcel includes a light industrial/manufacturing building constructed in 1978 that totals 2,800 square feet, while the second parcel includes a two-story, 3,750 square foot light industrial/warehouse building. The third parcel comprises just over one acre of vacant industrial land.
Sitting adjacent to Redmond Way, the three-parcel property is just north of Marymoor Park and roughly one mile east of downtown Redmond. The property is also about five miles east of Kirkland via Interstate-405.
According to Google Maps, one of the buildings is home to Blackstone Otr, a tire company. The property is in close proximity to various other automotive shops such as Les Schwab Tire Center and Eastside Auto Care.
There have not been too many industrial sales in the city of Redmond in recent months, with most of the warehouse/manufacturing sales occurring further south in cities like Puyallup, Tukwila and Lakewood.
In early March, Indianapolis-based Duke Realty spent $36.1 million, or approximately $158 per square foot, to acquire an industrial/warehouse building located along the East Valley highway in Sumner from Exeter Property Group. In mid-March, San Francisco-based Lift Partners purchased four parcels in Tukwila—comprising 219,645 square feet of office/warehouse properties—for $11.3 million from Gray Cat Collective LLC. And in early April, Newport, CA-based TA Realty purchased two industrial properties in Puyallup for a combined $38.5 million from Sumner-based Evergreen International Holdings.