A California developer plans to replace the Seattle/Tacoma Kampgrounds of America (KOA) Journey that has operated in Kent, Wash., for more than 40 years with a large warehouse, according to the Kent Reporter.
South Dakota-based Recreational Adventures Co., which owned and operated the KOA, sold the 8.1 acres in April to Lift Partners, of San Francisco, for $10.3 million, according to King County property records. Lift Partners is a full-service real estate investment company focused on industrial and office opportunities along the West Coast, according to its website.
KOA had 189 sites at its Kent location, which opened in 1978. Recreational Adventures Co. took over operation and ownership in 1995, according to an email from Gwyn Wathen, marketing director for Recreational Adventures. The property sold for $1.9 million in January 1996, according to county property records, which means Recreational Adventures made about $8 million on this year’s sale.
Recreational Adventures operates 14 KOA Campgrounds across the nation, Wathen said. He did not respond to questions about why the company decided to sell the property.
A few campers remained on the property this month, but no new campers are allowed as it is officially closed.
The King County Assessor appraised the property at $6.5 million this year.