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Terreno Realty Acquires Parmac Industrial Park in Metro Seattle for $33.7M

Parmac-Industrial-Park-Kirkland-WA

The 126,721-square-foot Parmac Industrial Park in Kirkland, Wash., is fully occupied by a mix of wholesalers, distributors and sports/recreational tenants.

KIRKLAND, WASH. — Terreno Realty has purchased Parmac Industrial Park, located at 10822-10858 117th PL NE in Kirkland. An investment group, which owned the property for more than 30 years, sold the asset for $33.7 million, or $266 per square foot.

At the time of escrow, a mix of wholesalers, distributors and sports/recreational tenants fully occupied the 126,721-square-foot property. A seven-acre lot with future expansion potential was included in the transaction.

Leroy Lutu of Marcus & Millichap represented the seller and procured the buyer in the deal.

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