Auburn industrial building sells for $10.5M
Daily Journal of Commerce | By JOURNAL STAFF
AUBURN — An industrial building at 4620 B St. N.W. in Auburn sold out of receivership for $10.5 million, according to King County records.
The seller was EM Property Holdings LLC, an entity of TTF Aerospace, which acquired the property in 2013 for almost $5.7 million.
Even before the coronavirus-caused collapse of commercial aviation, TTF went into receivership in January. It was a supplier and refurbisher of aircraft interiors for both Boeing and Airbus.
The buyer was CIVF-VI WA1M01 LLC, which is associated with Cabot Properties of Boston.
Scott Clements and David Butler of ORION Commercial Partners represented the court-appointed receiver. The deal was worth about $155 per square-foot. The property had been listed for about three months.
Developed on about 3 acres in 1995, the TTF East Park Building warehouse/office complex has about 67,800 square feet. It’s a little east of Highway 167, and a few miles north of downtown Auburn.
Puget Sound Business Journal reported the pending deal last month. TTF’s other assets were sold out of receivership this month to Commercial Aircraft Interiors of Arlington.