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EVERETT A downtown Everett cornerstone called the Port Gardner Building hit the industrial genuine estate market recently. The five-story office complex at 2802 Wetmore Ave. is home to Funko, the collectible toymaker that signed a 10-year lease for the office in 2016. The business's leasehold now includes the almost 100,000-square-f00t iconic structure, along with a neighboring parking garage linked by a sky bridge and a third standalone building across Wetmore Opportunity.

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95 million, according to the official offering. Funko's lease isn't impacted by the sale, according to a business spokesperson. The buildings are owned by a local private equity group, stated the listing broker, Dave Speers of Kidder Mathews. The Port Gardner Structure, integrated in 1929, is on the Everett Register of Historic Places.

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In the 1940s, it was purchased and ended up being the Bon March outlet store, which closed in 1991. More just recently, it housed Trinity Lutheran College up until the college completely shuttered in 2016.  get it now , the college sold the historic structure and connected parking garage for $11. 5 million, according to public records.

The business is known for pop culture-inspired vinyl figures, with signature oversized heads and broad eyes. Its CEO told investors this month that the toymaker reached a milestone in 2015, reporting more than $1 billion in sales in 2021. Sales are expected to increase another 20% to 25% this year, according to a Thursday news release.

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Funko has actually invested an approximated $13 million to renovate the Port Gardner building, according to the offering. Public records list Port Gardner Building LLC as the present owner of the historical building and connected parking lot, which has nearly 400 stalls and a Wells Fargo Bank branch. Funko's downtown footprint has expanded to consist of the building at 2731 Wetmore Ave., with 4 stories and nearly 60,000 square feet.

Public records state 2731 Wetmore Ave. is owned by GT Wetmore LLC, which acquired it for $8. 89 million in September 2019. Port Gardner Building and GT Wetmore are signed up to the same Seattle address as In, City Residences, a residential or commercial property management company. In overall, Funko is scheduled to pay about $3 million in 2022 to rent the structures, according to the offering.

Twitter: @rachel_m_riley. A photo-illustration of the Funko residential or commercial property in downtown Everett. (Kidder Mathews).