February 5, 2018 – SMARTCAP, a commercial real estate investment company, has added Quadrant I-5 Corporate Park, Building A, a 74,974 square foot office building to their portfolio, for $14.4 million. Kidder Mathews commercial real estate brokers, Todd Battison and Ken Hirata, represented SMARTCAP in the purchase. The seller, Shelby Company, LLC was represented by Battison, Andy Miller, and Matt Hagen, also with Kidder Mathews.
The two-story, Class A office building is located at 738 134th Street SW in Everett, Washington. The building sold at a 7.2% cap rate, and was 87% occupied.
In September of 2017, SMARTCAP worked with Battison and Hirata when they acquired Building B, a 68,575 square foot building in the same park, for $12.5 million.
“We are thrilled to have acquired nearly 145,000 square feet of Class A office space in the market for an excellent price. With the increased traffic out of Paine Field and the growing desire for quality office space by tenants moving to the area, we believe the long-term viability for these properties will continue to increase,” said Tim Shoultz, president & co-founder of SMARTCAP.