Spears Real Estate purchased the four industrial buildings that make up the Quad 205 Business Park in Vancouver, WA, for $8.25 million or about $75 per square foot, from MIREF Quad 205 LLC. The sale was an upleg in a 1031 exchange.
Located at 4018 NE 11th Ave. and 10112-10914 N.E. 29th Ave., the four properties total 108,625 square feet and were constructed in 1983. Each property contains approximately 24,000 to 30,000 square feet.
At the time of sale, the Quad 205 Business Park was reported to be about 77 percent occupied.
David Hill of Grubb & Ellis represented the seller, while Steve Dodds and Denis O’Neill of NAI Norris Beggs & Simpson represented the buyer.
For more information, please refer to CoStar COMPS #1825577.