5809 & 5817 238th St SE, Woodinville, WA 98072
Team: Tyler Springer, Jordan Springer, Devin Haskell
Close of Sale: 12/16/2022
Price: $8,810,000
About
The Commercial Trade Center at 5809 & 5817 238th St SE, Woodinville, WA is a fully leased two-building investment property in the close-in Eastside Puget Sound submarket. The 49,434 square feet of building area is leased to multiple tenants. SRE exclusively represented the seller and listed the property for sale in late August 2022. This was a time when the market was rapidly changing. An understanding of the shifting debt market and its effect on investment real estate was beneficial. The seller’s target was a seamless and quick close. SRE rapidly managed the offering launch, buyer selection and guided the sale to close. By early September, a purchase sale agreement was negotiated and signed. By October 4th, only 42 days after listing, the buyer was non-refundable on earnest money and set to close. The seller then granted the buyer an extension that set December 16th, 2022 as the close date.
Key Components
– Two-building Investment Property
– Industrial
– 49,434 Total SF
Tyler Springer of SRE and the SRE team (Jordan Springer and Devin Haskell) represented me in the sale of my two-building business park. The target timeline meant a quick process. Tyler understood this and quickly negotiated a sale at a price I was very happy with and with a buyer that was qualified to close. The process was smooth, and I consistently heard from Tyler with updates. I’d highly recommend Tyler and the SRE team.
John Bomgardner