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12/20/22
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Renton Logistics Center, a 459.3k sf, Class A industrial building in Renton, WA, was acquired by an unnamed institutional buyer. The property was sold by Clarion Partners.
A rare offering of scale in the Kent Valley, this highly functional cross-dock facility was built in 1996 and has a 30’ clear height, 75 dock-high doors, trailer parking, heavy power along with upgrades to ESFR and energy efficient lighting. It is fully leased to three quality tenants: Graybar, Swire Coca-Cola and Sealed Air.
Renton Logistics is located at 2501 East Valley Rd in Renton, less than five minutes from I-405, adjacent to State Route 167, 22 minutes south of downtown Seattle, and equidistant from the Ports of Tacoma and Seattle.
Brett Hartzell and Paige Morgan with CBRE National Partners in the Pacific Northwest represented Clarion Partners in the transaction.
Tenant demand outpacing supply pushed industrial vacancy rates lower in the Puget Sound region at the end of the third quarter, according to CBRE research. Vacancy dipped to 4.2% for the region and is even lower in the Renton industrial district (just 3.2%). Industrial investment sales picked up in the third quarter, totaling $913 mil—nearly double the second-quarter’s volume of $469 mil.
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