Furniture retailer IKEA acquired two building in the Northwest Corporate Park in Renton, WA, from AMB Property Corp. for $32.8 million, or about $43 per square foot.
The two buildings are at 600-630 and 800-850 SW 43rd St. They were constructed in the 1970s and collectively total almost 800,000 square feet.
IKEA occupies both buildings and recently signed a 10-year renewal. The properties were on the open market for about a month prior to the sale. IKEA will continue to occupy the facilities.
Brett Harzell, Dara Longo and Barbara Emmons of CB Richard Ellis represented AMB Property Corp. Les Boudwin of Pacific Real Estate Partners and Tony Beatty of NAI BT Commercial represented IKEA.
Please see CoStar COMPS #1691217 for more information regarding this transaction.