WiredZone Buys Harbour Pointe for $23M

WiredZone Holdings, a Dallas-based real estate operating company, has purchased the 350,000-sf Harbour Pointe Tech Center in Mukilteo, Wash., for $23 million.

Capitalized by Apollo Real Estate Advisors LP of New York City and Dallas-based Prescott Realty Group, WiredZone purchased the building from Raytheon Co., a Lexington, Mass.-based defense contractor. Vance Detwiler, director of acquisitions for WiredZone, said the company will put “several million” dollars into the building to prepare it for bandwidth-intensive, high-tech and telecommunications tenants.

Harbour Pointe, the company’s first purchase in the region, will be the largest block of high-bandwidth Class A office space available in the Seattle-area market, Detwiler said. At a purchase price of less than $66 a square foot, it is also one of the least.