The Andover Company represented Charlies Produce on the purchase of two buildings from the Port of Seattle, which totaled 693,414 square feet. This property was purchased to accommodate their expansion and consolidation out of five smaller facilities. The buildings, which were vacant at the time of sale, are situated on 28 acres.
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Northwestern Mutual Life’s suburban office portfolio of 100,000 SF in Renton, Washington became available within one year of Boeing’s notification to vacate their project. The office market was depressed with a 25% vacancy level in the South King County Office Market. Northwestern, an experienced and savvy real estate owner, was faced with the challenge of re-tenanting a four (4) building complex in a deteriorating market.
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Nordstrom, Inc. decided to consolidate their Seattle distribution facilities to Portland, Oregon which created a 162,000 SF building in Tukwila that was considered excess property. The challenge was to achieve the highest value in a relatively soft real estate market and a soft Seattle economy. The building was going to be vacated by Nordstrom.
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Levi Strauss determined that they were going to establish a new corporate headquarters for the discount division named Brittania. After interviewing numerous brokerage firms, The Andover Company was selected to handle its 38,000 SF office relocation from San Francisco to Seattle. Levi Strauss’ move to Seattle was predicated upon returning Brittania back to its original market, reducing facility costs, and maintaining a high corporate image.
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Citicorp Real Estate, Inc. received the responsibility of a 200,000 SF office because of a non-performing loan in a very soft office market. The project was 50% vacant when Citicorp took control of the institutional grade property. After interviewing brokerage firms, The Andover Company, Inc. was selected to market this office portfolio in a depressed real estate market.
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