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December 29, 2016

BECU buys Gateway Corporate Center for $78M

By BRIAN MILLER
Journal Staff Reporter

Photo by BECU [enlarge]

The Boeing Employees Credit Union has bought most of the Tukwila office and industrial park where its headquarters building is located. BECU confirmed the sale, recorded this week by King County, of the Gateway Corporate Center for $78 million.

The seller was Rreef America REIT II Corp. MMMM7, which acquired the property in 2005 for $73.3 million as part of a larger portfolio sale.

Located at 12886 Interurban Ave. S., the large office and industrial park was developed in 1986. The property lies between State Route 599 and the Duwamish River, just west of Interstate 5.

In addition to two buildings it already owned, including the BECU Tukwila Financial Center, BECU said it now owns 10 buildings totaling 589,000 square feet. The entire complex has 11 buildings, according to BECU.

Andrew Miller and Matt Wood of Kidder Mathews represented the seller. KM's Bill Frame and Richard Davidson represented BECU. Frame couldn't be reached before press time to provide additional details.


 

Brian Miller can be reached by email at brian.miller@djc.com or by phone at (206) 219-6517.




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