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April 25, 2013

Colony Park Business Center sold

Photo courtesy of Jones Lang LaSalle [enlarge]
The Colony Park Business Center in Lynnwood sold for $7.85 million.

A local investor represented by Ken Butler of Charleston, S.C.-based Butler Commercial Investments LLC bought The Colony Park Business Center in Lynnwood for $7.85 million, or $95.19 per square foot. Jones Lang LaSalle Senior Vice President Daniel Seger, managing directors Ann Chamberlin and Mark Flippo, and Vice President Brent Jackson represented the seller, which was an entity of Washington Capital Management. The six-building, 82,467-square-foot property is at 19011-19029 36th Ave. W. It was 86 percent leased to 20 tenants at the time of sale. In January, Jones Lang LaSalle facilitated the $4 million sale of a 29,570-square-foot office and bank building in the business center.




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