Written by Kate Snyder
Recent sales of commercial properties in Marysville show that the city continues to attract investors. The property, located on the north end of the city, was purchased by an affiliate of Marnick Real Estate Services for $10.6 million, or about $165 per square foot, according to Snohomish County public records. The seller was a company that shares an address with Apollo Global Management, a capital firm focused on alternative wealth management and retirement solutions.
The property, located at 3711 88th St. NE, measures 63,981 square feet, with a total ground floor area of approximately 61,128 square feet and a total second floor area of 2,853 square feet, according to county records. The building is located on his 5.93-acre property and was built in 2000. Hagen, Good Neighbor Vet, and Global Credit Union all have addresses at this property.
Murnick Real Estate Services, based in Roseland, New Jersey, is a privately held real estate company specializing in the acquisition, disposition, asset management, and development of real estate assets throughout the United States. Marnick, along with his affiliated companies, has been involved in the acquisition and disposition of over $200 million of real estate assets throughout the United States, primarily focused on multifamily communities and net lease assets.
Snohomish County has also seen other commercial acquisitions in recent months.
Earlier this year, the Everett retail property traded for $12.9 million, or about $434 per square foot, the registry previously reported. The buyer was an affiliate of Pacific Centers Chairman Edward O’Sullivan, and the seller was an affiliate of Western Williams, a partner in Western Property Management. The property is located at 5006 132nd St. SE and consists of four buildings measuring 16,746, 3,372, 3,516 and 6,045 square feet, according to county records. The total area of this parcel is approximately 3.6 acres. Businesses with addresses on the property include Pizza Hut, Taco Bell and Bartel Drug.