Off-Market Tukwila Manufacturing Facility Purchase for Fatigue Technology
Fatigue Technology, Inc. · Tukwila, WA
Represented by Michael Hemphill, The Andover Company
- Requirement120,000 SF manufacturing and distribution facility
- Purchase70,000 SF facility with excess land from American Mail-Well
- Price$3,150,000, a year before it would have been listed
- Expansion50,000 SF added after purchase
Challenge
Fatigue Technology, Inc., a 25-year-old privately held engineering and manufacturing company, wanted to buy or build a 120,000 SF manufacturing and distribution facility in Tukwila. It already owned two buildings there totaling 110,000 SF next to a major shopping mall, which could be leased to more retail-oriented users and kept as an investment.
The industrial market was strong, with vacancy under 5%, few undeveloped sites, and few buildings for sale in the area that fit.
Strategy
Andover scoured the market for every option within Fatigue Technology's location parameters and made numerous offers, some on buildings listed for sale and some on unlisted buildings that looked attractive.
Andover then found an alternative through another client, American Mail-Well, whose facility was not yet on the market.
Results
Andover negotiated Fatigue Technology's purchase of a 70,000 SF facility with excess land from American Mail-Well for $3,150,000, a year before it would officially have gone on the market.
Buying early gave Fatigue Technology the lead time it needed for design, permitting, and construction pricing on a major renovation that added 50,000 SF. The result is a state-of-the-art manufacturing and distribution facility.
Related services
More on the Tukwila industrial and office market.
Adapted from The Andover Company's published case study. Represented by Michael Hemphill of The Andover Company. Ben Hemphill now works alongside Mike Hemphill.
