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BENAROYA BUYS FORMER MTI CAMPUS IN PUYALLUP

News: Regional

Microchip Technology Inc. Sells 710,600-SF Flex Park for $30M

The Benaroya Companies of Seattle has purchased the former Microchip Technology Inc. (MTI) campus, a 10-building flex park at 1111 39th Ave. SE in Puyallup, WA, for $30 million, or about $42 per square foot.

The 710,654 square foot park includes 336,500 square feet of office and data center space in Buildings A and C, and 298,854 square feet of high-tech R&D space in Building D, which was constructed in 1998 by Matsushita for $220 million.

"There continues to be high demand for large blocks of affordable office, data center and clean manufacturing space in the Pacific Northwest," Benaroya Principal Larry Benaroya said in a statement.  "We anticipate the campus will attract interest based on the superior infrastructure and abundant power."

The 92-acre campus, which has been renamed South Hill Business & Technology Center, features environmentally friendly technology, walking trails and access to highways 167 and 512 and Interstate 5. 

Arie Salomon, SIOR, CCIM and Jeff Forsberg, CCIM of NAI Puget Sound Properties in Bellevue, WA represented the buyer and seller, Microchip Technologies.