AUBURN, WA-Opus Northwest has sold the first two flex buildings at its Park 167 development here for $12.9 million, according to a brokerage firm involved in the transaction. Completed in late 2003, the two buildings total 148,151 sf and are 67% leased. The sale closed earlier this week.Located across from the Auburn Supermall at the intersection of 15th Street Southwest and State Route 167, the buildings comprise the built portion of an eventual four-building, 309,000-sf development by Opus Northwest known as Park 167. Tenants include the Fastenal Co., Modern Staple Inc., inTouch Solutions, Champion & Associates, Dreamliner Air Inc., Paulson Enterprises Inc., Reclinerland Inc. and Auburn Gymnastics Center Inc. The asking rate for space in the buildings is $0.44 per sf per month for warehouse and an additional $0.70 per sf per month for an office build out. The buyer is listed as Beaverbrook LLC. The buyer’s brokers, Doug Smith, Eric Cederstrand and Tom Brown of Colliers International in Tacoma, declined to reveal the individual investor behind Beaverbrook, but did say he is a Washingtonian and that the transaction completed a partial 1031 exchange. Acquisition financing was arranged by Frontier Bank.

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