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Lynnwood Corporate Center Trades for $12M-Plus

LYNNWOOD, WA-ScanlanKemperBard Cos. of Portland, OR sells the 73,412-sf, class A office building near the confluence of Interstates 5 and 405 to Peter Sullivan Associates of San Francisco.

By Brian K. Miller | Updated on September 22, 2005

LYNNWOOD, WA-ScanlanKemperBard Cos. of Portland, OR has sold Lynnwood Corporate Center here for $12.05 million. The new owner is Peter Sullivan Associates of San Francisco.

Lynwood Corporate Center is a 73,412-sf, class A office building located within a few blocks of Interstate 5, just south of Interstate 405 and within a mile of Alderwood Mall. The four-level, steel-and-mirrored-glass building was constructed in 1988 and renovated in 2000. It was 74% leased at the time of sale.

Major tenants include PacMed Clinics (10,077 sf), Progessive (10,793 sf), MCG Financial (8,843 sf) and McCarthy Financial (5,397 sf). The building also generates antenna revenue from Voicestream PCS, Sprint and US Communications.

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