$24.5 Million Maltby Single Tenant Industrial Purchase
104,672 SF Manufacturing Building Sells for $24.5 Million
August 25, 2022 (Bellevue, WA) – Lee & Associates Commercial Real Estate Services is pleased to have assisted Cairn West in its acquisition of the OSW facility, a 104,672 SF industrial/heavy manufacturing building centrally located in Maltby, WA.
The OSW Building, which transacted at $24,500,000, was completed in 2018 and is a specialty single tenant industrial and manufacturing building located on 10.14 acres. The state-of-the-art facility was originally built for OSW Equipment and Repair and its foundation was designed to accommodate 5-ton overhead cranes in almost every bay, a large press break weighing over 300,000 pounds, two substantial sized paint booths, and a mixing room. Also incorporated into the building’s infrastructure are large gas and electrical loads along with a detention vault that is over 485 feet long. OSW manufactures products for the construction, transportation, industrial and mining industries and is a subsidiary of Federal Signal Corporation.
“It was a pleasure to work with Cairn West to exchange 1031 proceeds from a previous sale into a stable close-in industrial asset and market with tremendous upside. We were happy to have come to terms off-market with the Seller and his representatives, Kidder Matthews, to close this transaction within an expedited timeline,” noted Adrienne Hunter, Senior Vice President at Lee & Associates.
The Lee & Associates team of Adrienne Hunter and Jim Reed represented the interest of the Buyer, Cairn West, in this transaction.
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