Building A at 11811 NE First contains 39,878 sf and Building B at 11911 NE First holds 45,164. Both are three-story structures built in 1983 by local developer Polygon.
Steve Kramer, director of investment sales for Seattle-based Martin Smith Inc., represented the seller, Principal Capital Management LLC of Des Moines, IA.
Kramer declined to give specifics on the lease rates of the fully occupied Class A space, but a listing pegs them at $29.50 psf. Kramer describes the properties as multi-tenant, with key occupants including AGI Technologies, Motorola and Mutual of Enumclaw.
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