SunCap sells recently completed FedEx Ground in Redmond

Charlotte-based SunCap Property Group sold a 212,000-square-foot FedEx Ground distribution center in Redmond it built earlier this year for $60.63 million. Property records list the buyer as Franklin-Redmond LLC. SunCap bought the 24 acres of vacant land at 18795 N.E. 73rd St. in October 2012 for $16.87 million. It was previously owned by an entity related to the Taylor family of Redmond. Freiheit & Ho Architects of Bellevue designed the distribution center and the general contractor was Sierra Construction Co. of Woodinville. Freiheit & Ho’s website calls the distribution center the largest industrial building in Redmond. The building has 30-foot clear heights and houses offices, and sorting and distribution equipment. It is FedEx’s first LEED-certified project. SunCap is a real estate investment and development company that specializes in build-to-suit industrial and office facilities. It has developed projects, including other FedEx Ground distribution centers, in North Carolina, South Carolina, Virginia, Georgia, Nevada and New York.

Crews from Sierra Construction recently finished tilting both shells for the first phase of Stryker Business Center at Pacific Gateway in Kent.

The 70-acre site at 59th Place South and South 212th Street is part of the former Boeing Space Center.

The first building – a 120,600-square-foot concrete warehouse – was tilted in September. The job involved 68 exterior and four interior panels. Crews installed the membrane roof last month.

The second building – a 318,200-square-foot concrete warehoue – was tilted three weeks ago. Crews tilted 108 exterior panels and four interior panels for the mechanical rooms. Roofing started Monday.

Sierra expects to finish the project in January 2014.

IDS Real Estate Group is the owner and developer, and Clarion Partners is the capital partner.

Les Boudwin and Scott Carter of Jones Lang LaSalle are the leasing brokers. Both buildings are being built without signed tenants.

Boudwin told the DJC in July that a second phase could add as much as 893,400 square feet in up to four buildings. He said they would start as build-to-suit projects.

The design team is Craft Architects, Shutler Consulting Engineers (structural) and Barghausen Consulting Engineers (civil).

Major subcontractors are Hos Bros. Construction, Northwest Linings, Edge Concrete, Lakeside Paving, R.E. Sides Landscaping, Miles Sand and Gravel, Olympic Iron Works, Panelized Structures Inc., Weatherguard Inc., Rainier Glass Co., Smith Fire Systems, State Mechanical, Universal Refrigeration, West Coast Signal and Olsen Electric.

Sierra’s team is led by project manager Dan Peck, project engineer Ryan Hogan, and superintendents Jamey Clark and Gary Wood.