MCA Realty, a real estate investment and management firm based in Orange County, has recently completed the sale of Spectrum Business Park in Federal Way, Washington. The multi-tenant industrial park was sold for $13.75 million to a private investor who participated in a 1031 Exchange.
The transaction was facilitated by Kidder Matthews’ Andy Miller and Matt McLennan, along with Kyle Schipper from NAI Puget Sound Properties representing MCA Realty. The buyer was represented by Earney Velton of JSH Properties.
Originally acquired in 2021, the property spanning over 68,911 square feet underwent extensive improvements such as paintwork and upgrades to the parking lot and roof/gutters. Interior renovations were also carried out along with electrical updates and landscaping enhancements. Additionally, new signage was installed on the property which dates back to 1978. Located between Seattle and Tacoma with easy access to freeways connecting it to South Sound region; at time of sale all units were fully leased.
This marks another successful transaction for MCA Realty’s Industrial Growth Fund as it continues its specialization in commercial properties across Western U.S.
