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Building Leased to Home Depot Trades Hands

BELLINGHAM, WA-HDG of Indianapolis pays Bromont Development of Scottsdale, AZ $19.5 million for a 130,000-sf retail property here that is net leased by the home improvement retailer.

By Brian K. Miller | Updated on February 27, 2004

BELLINGHAM, WA-A 130,000-sf retail property here that is net leased by Home Depot has traded hands for $19.5 million. The buyer was HDG of Indianapolis and the seller was Bromont Development of Scottsdale, AZ, according to CB Richard Ellis, the brokerage firm involved in the transaction.

Located at 420 Telegraph Rd., Burnham Pacific developed the 9-acre property for the home improvement retailer in the late 1990s. According to Whatcom County property records, Bromont acquired the asset in October 2003 for about $23.5 million from RVIP CA/WA/OR Portfolio LLC, which acquired the asset from Burnham Pacific in November 2000 for about $20 million.

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