Three South Seattle Industrial Properties Trade Hands

SEATTLE-Three South Seattle industrial properties have traded hands in the past few weeks.

The largest was the $7.1-million sale of Lander Station, a two-building 45,000-sf development at the corner of Occidental Avenue and Lander Street in the SODO area. The seller was Tube Art, for whom the property was built in 1990. Tube Art continues to occupy the 28,000-sf warehouse on the property, with eight years remaining on a 10-year lease. The remaining 17,000-sf office/flex building is leased to Starbucks and the Service Employees Union. The buyer was the Charles & Emma Frye Museum, a non-profit trust.

The second largest of the transactions was the $2.1-million sale of the 38,000-sf J.H. Carr manufacturing building on South Horton Street in the Georgetown area. The buyer was Messenger Sign Corp., which has outgrown its current 10,000-sf location off Mercer Street in the South Lake Union area. The seller was J.H. Carr, which is leasing back the facility for about six months until they are able to move into their new facility in Kent. Messenger will occupy approximately 20,000 sf of the facility and will lease the remainder to other tenants.