Published January 2003

Mortgage company to move into former Safeco building

SCBJ Staff

Mortgage Investment Lending Associates Inc. has taken over the former Safeco building overlooking I-5 and plans to move in early this year.

The Lynnwood-based mortgage company will occupy all 55,000 square feet of the building at 6021 244th St. SW in Mountlake Terrace, said Tina Gonsalves, the company’s marketing director.

A real estate corporation co-owned by Mortgage Investment’s founder and president, Layne Sapp, bought the 10-year-old, four-story building from Safeco Corp. in a transaction that closed in December. The purchase price was less than $6.1 million, even though the property has been assessed at more than $7 million, according to Snohomish County records.

The glass-covered office building has been empty since Safeco moved out in 2001. Now that the building has sold, the Safeco signs are gone, and Mortgage Investment hopes to begin moving in by late February, Gonsalves said.

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