Built between 1978 and 1980 for Boeing Co., the 14-acre site on Andover Park West holds 11 two-story office buildings. Westfield's Southcenter Mall is located a few bocks to the north of the property.
Approximately 60% of the space in the park comes up for renewal no sooner than 2009 and 24% of the park is leased through September 2016. Tenants include Home Depot, International Academy of Merchandising & Design, and Ygnition.
The 15.5-million-sf Southend office submarket is currently 14.5% vacant. Year-to-date, the submarket has experienced 176,000 sf of positive net absorption. Steven Van Dusen and Jason Flynn of Eastdil Secured had the disposition assignment for the property.
Pacific Coast Capital Partners of Los Angeles provides debt and equity capital for real estate in the Western United States. Meriwether Partners is a Seattle-based real estate investment company.
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