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Gary Marsh  415.453.7045 gary@marshmarketing.com

02/27/2012

The Andover Company, Inc./CORFAC International Facilitates $10.46 Million Sale of a Class A Industrial Building in Kent, Washington

News From:
The Andover Company/CORFAC International
 
Contact:
Heather Seymour
(206) 336-5335
hseymour@andoverco.com
 
The Andover Company, Inc./CORFAC International Facilitates $10.46 Million Sale of a Class A Industrial Building in Kent, Washington
 
Kent, Washington (February 27, 2012) – The Andover Company, Inc./CORFAC International, a leading full-service commercial real estate provider serving the Seattle/Puget Sound market, today announced the completion of the sale of an industrial building located at 18805 80th Place South. The Class A Kent Valley industrial property measures 135,300 square feet and is currently occupied by one tenant.
 
The property was sold by Sciola Family Properties to Orchard Partners and Morgan Stanley Real Estate Investing for $10.46 million.
 
Brian Bruininks, CCIM, and Dave Baumer of The Andover Company/CORFAC International represented Orchard Partners and Morgan Stanley Real Estate Investing. The seller was represented by George Rockwell of The Andover Company/CORFAC International.
 
The property is currently leased to Pioneer Human Services. The sale was an off-market transaction.
 
“It was extremely gratifying to execute this transaction on behalf of our valued client in the midst of a challenging market for investment property sales,” said Brian Bruininks, CCIM, of The Andover Company, who is one of Andover’s six partners. “This acquisition demonstrated the strong demand for well- located assets in the post credit crunch environment.”
 
Established in 1978, The Andover Company, Inc./CORFAC International was formed to provide professional real estate brokerage services for businesses that require more versatility and support than can be offered by a sole practitioner, and more personalized service than is normally available from a national firm. Andover currently has 13 agents with over 180 years of commercial real estate experience. The Andover Company focuses primarily on selling and leasing industrial, office and investment properties in south King and north Pierce counties — the largest concentration of industrial space in the Northwest. In addition, Andover Asset Management provides property management services to both local and institutional clients.
 
About CORFAC International
 
CORFAC International (Corporate Facility Advisors) is one of the largest commercial real estate services organizations in the world. Founded in 1989, U.S.-based CORFAC is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate, multifamily properties, property management and corporate services in North America, with coverage in South America provided by Panama-based Latin American Corporate Property Services. A Principal Member of FIABCI – the International Real Estate Federation with global affiliates in Europe and Asia, CORFAC International offers commercial real estate services with market reach in 65 countries worldwide. For more information on CORFAC, contact 954-923-6160, info@corfac.com or visit www.corfac.com.
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