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405 Office Plaza Comes to Market

KIRKLAND, WA-Following its recent lease to WDS Global, Mastro Properties has placed the 63,217-sf former Costco headquarters building here on the market for just under $13 million.

By Brian K. Miller | Updated on January 23, 2006

KIRKLAND, WA-Mastro Properties has placed the 63,217-sf former Costco headquarters building here on the market. Known as Kirkland 405 Office Plaza, the three-story building was placed on the market shortly after Poole, England-based WDSGlobal signed a five-year lease for the entire building that commences in June.

The property sits immediately west of Interstate 405 at 10809 120th Avenue NE. The asking price is $12.87 million. The listing brokers, who also had the leasing assignment, are Chris Langer and Paul Jerue of the Seattle-based Broderick Group. Langer tells GlobeSt.com the price represents a first-year cap rate of 6.825% based on in-place numbers.

WDS Global signed the lease, which includes naming rights, during the fourth quarter of the year. The company provides an integrated service framework to the wireless industry. The building will serve as its US headquarters.

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