BELLINGHAM - Port of Bellingham commissioners will consider a proposal to spend $4.1 million to purchase a 36,000-square-foot office building on Bellwether Way.
Bayview Center is owned by Bellwether Harbor Investments, LLP, a group of investors led by local developer Andre Molnar, which purchased the Hotel Bellwether and the office building from Peter Paulsen in 2007.
The commissioners will consider the purchase at its Tuesday, Dec. 18 meeting.
"Bellwether Harbor Investment LLP's main focus is the operation of the Hotel Bellwether," Molnar said in a news release from the Port of Bellingham. "We believe that the Port of Bellingham is better equipped and prepared to operate the office complexes at Bellwether on the Bay, hence enhancing the success of this beautiful waterfront development."
According to the port, the office building currently has 18 tenants with 85 percent of its space occupied. It was appraised in 2012 for $5 million. The port already owns the nearby Bellwether Building, which has retail and office space.
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