December 5, 2019
The McKesson Building, located at 710 132nd St. in Everett, WA, sold in an off-market deal for nearly $16.5 million, or just under $150-per-square-foot. They buyer was Gensco, a wholesale distributor and manufacturer of HVAC equipment and supplies, while the seller was Galt, a private investment group.
The asset is a 110,000-square-foot stand-alone industrial building on five acres, located just off I-5 in south Everett.
Kidder Mathews’ Laura Fox, Jason Bloom, and Todd Gauthier represented the buyer. Kidder Mathews’ Matt Hagen and Matt Henn advised the seller.
Hagen says, “We continue to see upward pressure on pricing and rental rates in the south Snohomish County industrial submarket. Vacancy rates remain at historic lows, with modest new construction absorbing the demand.”
For comments, questions or concerns, please contact Dennis Kaiser