SODO Urbanworks, a 177,827-square-foot urban industrial business park located at 3901 1st Avenue South in Seattle, has sold for $53.45 million. The seller was 4105 First Avenue South Investments. Nicola Wealth, a Canadian-based wealth management and investment firm, was the buyer.
SODO Urbanworks is located in the heart of Seattle’s SODO neighborhood, one of the most sought-after light manufacturing and last-mile distribution markets in the country, situated less than one mile from the Port of Seattle.
The property was originally constructed in 1942 and converted to a multi-tenant property in the 1980s. Its most recent renovations started in 2013, transforming the warehouse areas to accommodate wine-tasting rooms and tenants. Currently, the property is 100 percent leased to a well-diversified group, including anchor tenants Southern Wine & Spirits, Din Tai Fung, San Juan Seltzer, and IClick.
Seattle remains one of the country’s strongest industrial mark
