Sabey Corporation has purchased the East Marginal Way Corporate Park from The Boeing Company. The six-building campus in Tukwila, immediately south of Seattle, consists of 798,000 square feet of warehouse/distribution and office space.
"The Boeing Company continues to reduce its surplus real estate to fit its business plan of being more cost competitive for its customers and maximizing shareholder value," said Phil Cyburt, president of Boeing Realty Corporation.
This property was originally developed by Sabey and purchased by Boeing in 1990. Boeing will continue to occupy two of the buildings on a short-term lease.
"We build great quality developments and are pleased to acquire these building for our portfolio," said David Sabey, president of Sabey Corporation.
With this acquisition, Sabey Corporation will expand its neighboring "Intergate" (International Gateway) technology campus to offer more than one million square feet of heavily fibered, flex-tech office, data center and manufacturing space to Internet and Internet-related companies.