Colliers has arranged the sale of the Wright Group Building, an office and flex property located at 19201 120th Ave NE within the North Creek business park in Bothell. The building totals 59,830 square feet and combines office, flex, and warehouse space.
Colliers Vice President David Gunther represented the seller, RH Wright L.L.C., in the transaction. The buyer, Gracestone Partners LLC, acquired the property for $10,195,000. The building includes approximately 25,000 square feet of office space, with the balance configured for flex and warehouse use.
Property features include clear heights of more than 20 feet, two dock-high doors, eight grade-level doors, and 1,000 amps of power. These specifications position the asset to support a range of office, light industrial, and service-oriented users within the North Creek business park.
At the time of sale, the Wright Group Building was partially occupied by a mix of office and service-related tenants. Confirmed tenants include Trane Technologies, Element Materials Technologies, ISEC Construction, Taekwondo Way, Bioensis, and Barry Glenn State Farm. The tenant roster reflects a diversified user base spanning building systems, materials testing, construction services, fitness, life sciences, and insurance.
The property had been held by a longtime Mercer Island investor since 2001. Following the investor’s passing in 2021, the family elected to sell the asset, leading to the current disposition. This marks the end of a two-decade hold period for the prior ownership.
The buyer group consists of local investors who intend to occupy a portion of the office space themselves. In addition to their own use, they plan to maintain a long-term presence in the North Creek area. Their planned occupancy underscores ongoing local demand for well-located office and flex space within established suburban business parks.
