The sale of Arts Industrial Park, a 63,500-square-foot industrial property in Olympia, Washington has been successfully closed by Marcus & Millichap. The property was sold for $4.8 million.
Leading the transaction were investment specialists Matthew Herman and RJ Vara from Marcus & Millichap’s Seattle office who had the exclusive listing to market the property on behalf of a partnership seller.
Arts Industrial Park is situated at 6221 Rich Road SE in Olympia, Washington and was acquired by a value-add syndicator in an all-cash deal. The new owner plans to invest approximately $1 million into renovations and improvements for the asset.
Marcus & Millichap recently facilitated the sale of Arts Industrial Park located in Olympia, Washington. This impressive industrial property spans over 63,500 square feet and sold for an impressive price tag of $4.8 million.
Matthew Herman and RJ Vara from Marcus & Millichap’s Seattle office were responsible for marketing this unique opportunity on behalf of their client – a partnership seller with exclusive rights to list this valuable asset.
Situated at 6221 Rich Road SE in Olympia lies Arts Industrial Park which caught attention from various investors including one particular value-add syndicator who secured it through an all-cash transaction worth millions! With plans already underway to spend around $1 million towards renovations and improvements – there is no doubt that this acquisition will yield great returns!
