1200-S-192nd-St-SeaTac-WA

Wells Fargo Wealth Management Buys 94,739 SF Industrial Complex in Metro Seattle

by Amy Works

SEATAC, WASH. — Wells Fargo Wealth Management has purchased Olympic Industrial Park, a two-building, 94,739-square-foot industrial complex located in SeaTac, a suburb of Seattle. Avenue 55, on behalf of an undisclosed 1031 exchange buyer, sold the asset for $12.9 million.

At the time of sale, the 75,588-square-foot property located at 19111 Des Moines Memorial Drive was fully leased to a variety of tenants, including Alaska Airlines/Horizon Air, Seattle Air Cargo and BlueStar Refreshment Services. Built in 1983, the building features 26 loading dock doors, seven grade levels and 20-foot clear heights.

The second building, located at 1200 S. 192nd St., is a 20,548-square-foot office property built in 1983 and renovated in 2015. At the time of sale, International Rescue Committee, Carmichael International Service, Argent Express Group and Sea & Air Transport occupied the property.

Scott Alan and Patrick Mullin of Colliers International represented the seller in the deal.

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