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