Associated Grocers sells Seattle headquarters to Sabey

Associated Grocers said today it has agreed to sell its 55-acre Seattle headquarters and food-distribution hub south of downtown to longtime local developer Sabey Corp. Terms of the deal were not disclosed.

Associated Grocers said its board of directors voted unanimously to accept the Tukwila-based developer's offer, pending finalization of the terms.

The site, situated just south of Boeing Field between Interstate 5 and East Marginal Way, is believed to be the largest piece of Seattle property to go on the market in recent years.

The 73-year-old company put the site up for sale in December, hoping to cash in on the property's price appreciation.

Associated Grocers plans to lease the site back from Sabey while it looks for a new home.

Associated Grocers supplies independent grocers and supermarket chains in Washington, Oregon, Alaska, Hawaii, Guam and the Pacific Rim.

Sabey Corp. has built or redeveloped numerous commercial and industrial properties in the Seattle area, dating back more than 20 years.

Amy Martinez: 206-464-2923 or amartinez@seattletimes.com