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OLYMPIA, WASH. — Marcus & Millichap has brokered the sale of Arts Industrial Park, an industrial property in Olympia, about midway between the Seattle/Tacoma area and the Pacific Coast. A partnership sold the asset to a value-add syndicator buyer for $4.8 million.
Located at 6221 Rich Road SE, Arts Industrial Park features 63,500 square feet of industrial space. The buyer plans to spend $1 million on renovations and improvements to the property.
Matthew Herman and RJ Vara of Marcus & Millichap’s Seattle office represented the seller in the transaction.