Quadrant, Cigna Sell 50,500-SF Trailside Building for $5.25M

ISSAQUAH, WA-Quadrant and Cigna Corp. have sold the 50,500-sf Trailside Building in their Snoqualmie Ridge Business Park development for $5.25 million or $103.96 per sf.

The two-story, two-year-old tilt-up was about 40% leased at the time of sale and is built out as 100% office. The buyer, the Northwest District Council of Assemblies of God, is relocating its headquarters from Everett into the building’s remaining space. Insignia Kidder Mathews is expected to get the property management assignment.

Cushman & Wakefield brokers Tom Bohman and Brian Toy represented Quadrant in the transaction. Jeff Chaney of Insignia Kidder Mathews represented the buyer. Chaney tells GlobeSt.com that the purchase price was $6.5 million but was reduced at closing by $35 psf for all unimproved space in the building