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Executive Summary

The building was constructed in 2000 to the highest standards, exceeding most conventional Class A office buildings in the Seattle area. The building has been extensively renovated and features a grand lobby with a free-floating steel staircase beneath a large multi-paneled skylight. The building has upgraded electrical and data capabilities and an above-market parking ratio. Totaling 100,295 square feet, the I-5 Technology Center is located directly adjacent to a major intersection off of Interstate 5 and within one mile of The Federal Way Commons, one of the largest lifestyle centers in the greater Puget Sound region.

Property Facts

Sale Type
Investment or Owner User
Property Type
Office
Building Size
100,601 SF
Building Class
A
Year Built/Renovated
2001/2012
Price
$14,000,000
Price Per SF
$139.16
Percent Leased
74%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
50,301 SF
Slab To Slab
11’
Building FAR
0.34
Lot Size
6.74 AC
Zoning
OP1, Federal Way - OP-1 (Office Park)
Parking
462 Spaces (4.59 Spaces per 1,000 SF Leased)

Amenities

  • Atrium
  • Conferencing Facility
  • Food Service
  • Security System

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Finance and Insurance
  • -
  • -
  • -
  • -

By focusing intently on broad economic, secular and market trends, we strive to position clients for the highest probability outcomes, while seeking value and seizing opportunities as they present themselves in our ever-changing world. By understanding money and markets, and the human emotional responses to them, we also seek to capitalize on market and asset dislocations caused by reflexive, emotional investor behavior, "herd mentality", and false conventional wisdom. All of which are ramped into today's markets.

  • Manufacturing
  • -
  • -
  • -
  • -

Collins Aerospace was formed in 2018 through the combination of Rockwell Collins and UTC Aerospace Systems, creating a business focused on aerospace and defense technologies. Collins Aerospace designs, manufactures, and services systems and components used across commercial aviation, business aviation, military and defense, helicopters, space, and airport operations. Collins Aerospace also organizes work across business areas such as aerostructures, avionics, interiors, mission systems, and power and controls, reflecting a broad portfolio that supports aircraft and mission platforms. Current company materials describe a global operating footprint and continued work on connected, autonomous, electric, and sustainable aerospace solutions.

  • Finance and Insurance
  • -
  • -
  • -
  • -

Farmers Insurance began in 1928, when its founders set out to provide quality insurance at a reasonable price. The company offers coverage for home, auto, life, business, recreational vehicles, and other financial products through multiple brands and distribution channels, including exclusive agencies, independent agents, online sales, and company call centers. Farmers has grown into a U.S. insurance group with a broad market presence and a national claims service network. The business continues to serve households and businesses across the country while maintaining its focus on insurance and related financial services.

  • Finance and Insurance
  • -
  • -
  • Triple Net
  • -

Humana began in 1961 in Louisville as a nursing home business founded by David A. Jones Sr. and Wendell Cherry, and later moved from long-term care into hospitals and health insurance. Today, Humana serves members through Medicare, Medicaid, TRICARE, dental, vision, pharmacy, and home-care offerings, while CenterWell supports senior primary care, home health, and pharmacy services. Humana’s recent materials describe a focus on simplifying healthcare, improving outcomes, and helping people access care through digital tools, provider networks, and member support resources. The company also continues to present itself as a healthcare services business built around helping people achieve their best health, with member-facing services that include plan management, care-finder tools, and prescription support.

  • Public Administration
  • -
  • $13.87
  • Full Service
  • Aug 2035

The National Transportation Safety Board is an independent Federal agency charged by Congress with investigating every civil aviation accident in the United States and significant accidents in the other modes of transportation -- railroad, highway, marine and pipeline -- and issuing safety recommendations aimed at preventing future accidents. The Safety Board determines the probable cause of: all U.S. civil aviation accidents and certain public-use aircraft accidents; selected highway accidents; railroad accidents involving passenger trains or any train accident that results in at least one fatality or major property damage; major marine accidents and any marine accident involving a public and a nonpublic vessel; pipeline accidents involving a fatality or substantial property damage; releases of hazardous materials in all forms of transportation; and selected transportation accidents that involve problems of a recurring nature.

  • Retailer
  • -
  • -
  • -
  • -

Tommy Bahama is a lifestyle brand spanning apparel, accessories, home goods, and hospitality concepts such as restaurants and Marlin Bars. Founded in 1992, the company developed an “island” aesthetic across men’s and women’s collections and expanded into dining with its first restaurant opening in 1996. In 2003, Tommy Bahama became a wholly owned operating group of Oxford Industries, whose shares trade on the New York Stock Exchange under the ticker OXM.

Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Finance and Insurance - - - -
Manufacturing - - - -
Finance and Insurance - - - -
Finance and Insurance - - Triple Net -
Public Administration - $13.87 Full Service Aug 2035
Retailer - - - -

Space Availability

  • Space
  • Size
  • Space Use
  • Build-Out
  • Available
  • 1st Fl-Ste 160
  • 7,660 SF
  • Office
  • Full Build-Out
  • Now
  • 2nd Fl-Ste 200
  • 5,000-15,935 SF
  • Office
  • Full Build-Out
  • 30 Days
  • 2nd Fl-Ste 288
  • 18,435 SF
  • Office
  • Full Build-Out
  • Now
Space Size Space Use Build-Out Available
1st Fl-Ste 160 7,660 SF Office Full Build-Out Now
2nd Fl-Ste 200 5,000-15,935 SF Office Full Build-Out 30 Days
2nd Fl-Ste 288 18,435 SF Office Full Build-Out Now

1st Fl-Ste 160

Size
7,660 SF
Space Use
Office
Build-Out
Full Build-Out
Available
Now

2nd Fl-Ste 200

Size
5,000-15,935 SF
Space Use
Office
Build-Out
Full Build-Out
Available
30 Days

2nd Fl-Ste 288

Size
18,435 SF
Space Use
Office
Build-Out
Full Build-Out
Available
Now

1st Fl-Ste 160

Size 7,660 SF
Space Use Office
Build-Out Full Build-Out
Available Now

2nd Fl-Ste 200

Size 5,000-15,935 SF
Space Use Office
Build-Out Full Build-Out
Available 30 Days

2nd Fl-Ste 288

Size 18,435 SF
Space Use Office
Build-Out Full Build-Out
Available Now

Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100

Property Taxes

Property Taxes

Parcel Number
215465-0050
Land Assessment
$3,819,300
Improvements Assessment
$7,114,700
Total Assessment
$10,934,000
  • Listing ID: 34791193

  • Date on Market: 2/11/2025

  • Last Updated:

  • Address: 32125 32nd Ave S, Federal Way, WA 98001

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