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8/09/17
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OpenSquare inked a five-year lease for a 75k sf, newly renovated warehouse building along Seattle’s waterfront port area.The lease value was not disclosed.
The property, located at 303 River St, is owned by Westcore Properties. After acquiring the building last year, Westcore performed an extensive remodel that included new site work, exterior upgrades, office improvements and dock area and slab upgrades. The property offers close proximity to the Port of Seattle, 25-foot clear height and heavy power service.
Kidder Matthews’ Matt Wood and Patricia Loveall represented OpenSquare. Westcore Properties was represented by Mike Roy and Kevin Skillestad of Neil Walter Company.
“The South Seattle industrial market is the strongest it has been in the last 10 years, with rental rates doubling over the last five years and a majority of that taking place in the last two years,” said Skillestad. “The availability of land is so limited that multi-story industrial space is now being constructed to meet the demand of the market.”
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