Completed in 1987, the park sits on 5.27 acres at 1020 South 344th Street. The complex is 87% leased. Major tenants include American Medical Concepts, Berger/Abam Engineers, R. Expo Inc. and Iron Hot Design.
Incorporated in 1990, Federal Way is the sixth largest city in Washington. Harsch also owns three retail centers in Federal Way--Celebration Center, Pavilions II Center and SeaTac Village. It also owns the 292,000-sf Fife Business Park in Fife and the 274,000-sf West Park Business Park in Auburn. All told, its Puget Sound area portfolio totals about 1.7 million sf.
Harsch acquisitions VP Tim Mitchell oversaw the transaction. Scott Alan, Andrew Hitchcock and Bill Condon with the Seattle office of Colliers International represented both buyer and seller.
Harsch acquires, manages and develops properties for its own portfolio. The company currently owns and operates 20 million sf of office, retail and industrial properties in 130 properties in five Western states. The company has 2.7 million sf in the development pipeline and owns and manages some 1,500 apartment units.
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