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December 30, 2021

Union buys office building for $3.4M

DES MOINES — A small office building at 23040 Pacific Highway S. recently sold for a bit over $3.4 million, according to King County records. The sellers were New Core Development LLC of Texas, plus a local investor, who acquired the property in 2018 for over $3.7 million. Mike George of NAI Puget Sound Properties represented the seller.

The buyer was an LLC associated with labor organization UFCW 21. The union's brokers were Peter Argeres and Mark Alfieri of Yates Wood & MacDonald. The latter said the union will occupy about 13,000 square feet, which is most of its 19,336-square-foot capacity. The deal was worth about $177 per square foot.

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