REI Sells Suburban Seattle HQ for $25M
- Dec 17, 2020
REI has completed the $24.6 million disposition of its 169,081-square-foot headquarters in Kent, Wash. Bridge Development Partners acquired the property, according to King County records.
Located on 16 acres at 6750 S. 228th St., the complex encompasses four buildings completed in 1988 and 2000. The property has served as the seller’s corporate offices for the past 27 years, CommercialEdge data shows. The office park has an on-site café and a parking ratio of 4 spaces per 1,000 square feet.
The new owner intends to raze the existing buildings and develop two warehouses on the site. Building A will span 50,529 square feet and include two drive-in doors, 11 dock-high doors and 32-foot clear heights. The 258,499-square-foot Building B will feature two grade-level doors, 32 loading docks and a 36-foot clear height. The development is slated for completion in the first quarter of 2022. JLL Managing Director Chris Spofford, Vice President David Cahill and Associate Connor Raffety will oversee leasing for the industrial property.
In September, REI sold its recently developed corporate campus in Bellevue, Wash., for $390 million to Facebook. The 400,000-square-foot property is designed to LEED standards and has approximately 15,000 square feet of retail.