Home Commercial Woodinville Office Park Sells for $10.75MM to Kirkland Investor

Woodinville Office Park Sells for $10.75MM to Kirkland Investor

By Brittan Jenkins

A Woodinville office park currently home to a number of health related companies has sold for $10.75 million to Woodinville City Center LLC, which is associated with W. Dean Weidner, a Kirkland investor and the president of Weidner Property Management. The Fowler Partnership was the seller in the deal.

The office park is a 3.56-acre property at 17311 135th Ave. N.E. that has three one-story buildings of 42,846 square feet. The Class B building was built in 1986 but was updated since then to improve individual suites, interior improvements, new roofs and parking lot repairs, according to LoopNet, a commercial real estate marketplace. The listing, dated to 2010, states the improvement also included a $300,000 upgrade into a medical suite.

Weidner founded Weidner Apartment Homes in 1977 and has 40 properties in the Seattle area ranging from as far north as Everett and as far south as Federal Way. The company also has four properties in Eastern Washington in Moses Lake, Walla Walla and Wenatchee. The group owns properties all over the United States and Canada including Phoenix, Tulsa, Salt Lake City, Calgary, Winnipeg and more. According to the company’s LinkedIn page, Weidner owns more than 43,000 units across the U.S. and Canada.

Woodinville hasn’t had much activity in the office market but a new industrial project is in the works from Chicago-based LaSalle Investment Management and the Renton office of Panattoni Development. Together, the two companies will work to develop the 206,000 square foot The Reserve at Woodinville industrial development project.