Breakthrough Properties Acquires 270,000 Square Foot Life Sciences Facility In Everett For $78M
215 Shuksan Way
$78,000,000
$288/SF
Building Size
270,000 SF
Asset Type
Life Sciences
Closing
Aug 17, 2026
AI
Breakthrough Properties acquired a biomanufacturing facility located at 215 Shuksan Way in Everett, Washington, for a total of $78 million. The property encompasses an area of 270,000 square feet, marking a significant addition to their life science portfolio.
Summary of transaction details:
- Property Type: Life Sciences
- Transaction Amount: $78,000,000
- Square Footage: 270,000
- Price Per Square Foot: $289
- Buyer: Dan Belldegrun
- Company: Breakthrough Properties
- Sale Date: 08/17/2026
- Market: Everett, WA
Dan Belldegrun, representing Breakthrough Properties, facilitated the acquisition through their second fund, thereby enhancing the company's investment portfolio in the life sciences sector.
Everett Life Sciences Market Snapshot
Boundary boundary · Life Sciences · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93