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A new 4,980 SF two-tenant building in the Federal Way WinCo Foods-anchored shopping center has changed hands for $3.7M. The building, which sits on 1.6 acres at 164 SW Campus Drive in Federal Way, is occupied by a Starbucks with a drive-thru, as well as a Pacific Dental Services office.
Hanley Investment Group Vice President Jeff Lefko and Executive Vice President Bill Asher represented the seller, which is an affiliate of Covenant Real Estate Group of Henderson, Nevada. The buyer is from Kirkland and paid all cash. Orion Commercial Partners’ Scott Clements represented the buyer.
Starbucks occupies 2,104 SF of the building. According to a report by Bloomberg, Starbucks sales are higher at stores with drive-thru service.
Several commercial real estate deals have taken place in Federal Way recently, including the sale of Waterbury Park Apartments and Homestead Townhomes. The growth is, in part, due to the $3.1B Sound Transit Federal Way Link extension that is expected to open in 2024.
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