The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
May 18, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



ETC... ETC...
Printer-friendly Version   Email an Associate
Washington Industrial User Trades for $26.6 Mil in Owner/User Buy

4/30/24

KRL Legacy LLC, an entity of Ace Relocation System Inc, purchased Pike Distribution Center, a 108k sf industrial property in Auburn, WA, for $26.65 mil ($247/sf). The asset was sold by CenterPoint Properties.

Pike Distribution Center is situated in the Kent Valley industrial hub and conveniently located near major confluences of Interstate 5, State Route 167, and Highway 18, minutes from the Port of Tacoma and SeaTac Airport. The 25-foot clear-height building includes secured and fenced trailer parking.

Kraig Heeter, SIOR, and Mike Newton with Kidder Mathews represented the buyer in the deal. Matt Murray of Kidder Mathews along with Matt Wood of KBC Advisors, repped the seller.

“Pike Distribution Center presents a unique opportunity with its rare dual-loaded orientation and expansive yard area. These features make it an ideal home for any business, ensuring its longevity,” said Murray.

There has been a rise in owner/user acquisitions in the Kent Valley. KRL Legacy will operate part of the property. The 50.4k sf of unoccupied space is being marketed for lease by Heeter and Newton.

“The user has been looking for an opportunity like this for many years and initially focused on developing raw land,” said Heeter. “However, high construction costs and a long entitlement process made this difficult. The pause in institutional demand allowed them to purchase an existing building at a discount compared to the peak of the market 12 months ago.”




Return to the previous page


 
 


 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media