According to a report from the Puget Sound Business Journal, Auburn Park 167, a two-building industrial property spanning 385,986 square feet and located at 3703 and 3941 I Street NW in Auburn, has been sold by Cushman & Wakefield for $83 million. The buyer of this campus is Cabot Properties.
The seller was represented in the transaction by Bryce Aberg, Jeff Chiate, Jeffrey Cole and Matthew Leupold of Cushman & Wakefield’s National Industrial Investment Advisory Group based in Southern California.
Aberg stated that this sale marks an important milestone for one of Seattle’s most desirable submarkets. He also noted that the property’s strong features such as its strategic location and impressive financial profile made it a rare investment opportunity.
The industrial complex comprises two warehouse buildings with flexible divisibility options including various bay sizes. It also boasts clear heights reaching up to 30 feet as well as loading docks at grade level or higher. Currently fully leased to reputable tenants,the property spans over17 acres within the sought-after Auburn submarketand enjoys close proximity to SR167and direct access to Seattle-Tacoma International Airport.
