Familiar name purchases federal complex in Auburn for $80M. Redevelopment planned
The U.S. General Services Administration on Friday announced the winning bidder and now owner of the 129-acre federal campus in Auburn.
It’s a familiar entity to the area when it comes to large-scale business site redevelopment.
The Auburn Federal Complex, 400 15th St. SW, marketed as Pacific Point, was sold to IRG Auburn LLC, representing Industrial Realty Group of Los Angeles, for $80 million.
That price was the minimum bid set by GSA.
According to GSA: “The new owner has indicated that they will take possession of the property in phases, based on the timeline GSA proposed to potential buyers.”
GSA says two federal agencies and a child care services provider “may occupy a portion of the property rent-free until April 30, 2024.”
The remaining agencies are the Social Security Administration and the Federal Protective Service, a GSA media representative told The News Tribune on Friday.
IRG also owns the former Weyerhaeuser campus in Federal Way, which it is in the process of redeveloping as Woodbridge Corporate Park.
The Auburn campus has been the location of the GSA regional headquarters for more than half a century, with the new headquarters moving to the Columbia Bank Center, 1301 A St. in Tacoma.
The sale is closing a major chapter on the federal government’s long history with the property, originally purchased in 1944 by the U.S. Army.
In 1962, GSA took ownership of a 177-acre portion of the site with multiple World War II-era warehouses, three ‘50s-era warehouses, an administration office and a water tower. The remaining military property was sold to private developers.
During the 1990s, GSA donated land to the City of Auburn for a park and school bus depot. An additional 8.4 acres was donated to the city for its municipal fire training center, according to GSA.
In 2017, GSA announced “disposal” of the property, part of the plan to shrink the federal real estate footprint.
GSA put the property up for auction in 2021, with revised terms of sale announced in January, setting a new timeline for when a buyer could take over the site to allow some government offices to remain temporarily, and set a soft close date of Feb. 16 for the sale.
IRG specializes in acquiring, developing and managing commercial and industrial real estate. Its portfolio contains more than 150 properties in 28 states.
This story was originally published May 20, 2022 at 12:40 PM.
