WiredZone Buys Harbour Pointe for $23M

WiredZone Holdings, a Dallas-based real estate operating company, has purchased the 350,000-sf Harbour Pointe Tech Center in Mukilteo, Wash., for $23 million.

Capitalized by Apollo Real Estate Advisors LP of New York City and Dallas-based Prescott Realty Group, WiredZone purchased the building from Raytheon Co., a Lexington, Mass.-based defense contractor. Vance Detwiler, director of acquisitions for WiredZone, said the company will put “several million” dollars into the building to prepare it for bandwidth-intensive, high-tech and telecommunications tenants.

Harbour Pointe, the company’s first purchase in the region, will be the largest block of high-bandwidth Class A office space available in the Seattle-area market, Detwiler said. At a purchase price of less than $66 a square foot, it is also one of the least.

Detwiler said the low purchase price allows WiredZone to beef of the building’s communications infrastructure to attract high-tech and telecommunications tenants. The waterfront location should be a draw as well, he said.

Special features of the building include electrical capacity of 13 megawatts, backup generator pads, 25-foot clear heights on the first floor, 14-foot, 6-inch clear heights in other areas and floor-loading capacities of up to 300 pounds per foot.

The leasing and management team for the property is headed by Colliers International, with Gregg Riva and David Rothrock leading the leasing team. All 350,000 sf is available for lease. Detwiler said he expects the leasing team will have the building leased up within a very short time frame, considering the incredible demand for space in this area.

Said Deborah Knutson, president of the Economic Development Council of Snohomish County, where Harbour Pointe is located, “With this large block of space coming online, we look forward to quickly becoming a major hub for technology and telecommunications companies.”