A privately held California real-estate developer has purchased the state Liquor Control Board’s former Seattle distribution center for $23.4 million, the state said Monday.
Panattoni Development Co. closed last week on a previously announced deal for the 10.9-acre site at 4401 E. Marginal Way S., according to the state Department of Enterprise Services.
At $104 a square foot, the sale is one of the highest priced warehouse sales ever in King County, the state said, citing data from commercial real-estate information service Costar.
Once voters passed Initiative 1183 to privatize liquor sales, the state decided to sell the 223,227-square-foot liquor distribution center. The property has about 33,000 square feet of office and nearly 190,000 square feet of warehouse space.
- Pursuit of big-money contract comes at a cost for Seahawks QB Russell Wilson
- Seattle man charged with vehicular homicide in cyclist’s death
- Paying the bill for U.S. Open at Chambers Bay
- ‘Historic’ tuition cut sets state apart from rest of U.S.
- Thursday notes: Seahawks escape suspension binge, NFL.com ranks Carroll, and more
Most Read Stories
Officials at Panattoni didn’t return calls seeking comment on Friday or Monday.
Sanjay Bhatt: 206-464-3103 or email@example.com On Twitter @sbhatt