Specht Sells 50,000 SF Office Building in Vancouver
Specht Development recently sold Parkway Plaza III for $7.25 million to Madrona Parkway, LLC. The 52,662 square-foot building, located in Vancouver, Wash., was brokered by Chris Johnson and Mary Kay West, of Colliers International, and sold in a partnership between Specht and the National Electrical Contractors Association Pension Benefit Trust Fund (NEBF).
“Vancouver is clearly experiencing similar growth to the Portland market, and we are proud to support that growth through continuing on as property managers for this prime piece of Vancouver real estate,” said Greg Specht, Chief Executive Officer, Specht Development.
Parkway Plaza III employed one hundred percent union labor when it was built in 1989. Specht will retain property management responsibilities for the building.