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6/11/25
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A 194.9k sf industrial property in Tacoma, WA was acquired by Goodwill of the Tacoma Goodwill Industries. The asset, located at 3102 S. Pine St, just south of Hwy 16, was sold by CenterPoint Properties.
The industrial facility, situated on 10.6 acres in the Fife/Tacoma submarket, is a mission-critical asset featuring 24-foot clear heights, 36 dock-high loading positions and three grade-level loading positions. Its strategic location offers proximity to major transportation infrastructure, including the Port of Tacoma, making it a property suitable for logistics and distribution operations. The property is part of the Seattle Infill Industrial Portfolio, a collection of four logistics facilities totaling 631.8k sf across the Kent, Tukwila and Fife/Tacoma submarkets.
Newmark Executive Managing Directors Andrew Briner and Jim Linn, Associate Director Aaron Banks and Senior Analyst Luke Easton, in collaboration with Vice Chairmen Thad Mallory and Taylor Hoff, represented CenterPoint Properties in the transaction. The price was not disclosed.
“The sale of 3102 S. Pine Street drew double digit offers from top-tier institutional investors, reflecting the high demand for premium industrial assets with superior trailer parking, extensive loading capabilities and proximity to the Port of Tacoma,” said Linn. “Goodwill’s determination to secure ownership underscores its long-term commitment to strengthening its operational presence in the region.”
The U.S. industrial market continues to show resilience despite rising vacancy rates, which reached 7.0% in the first quarter of 2025, the highest in over a decade. Net absorption and new leasing activity accelerated, marking the strongest absorption since Q4 2023, driven by occupier optimism in the post-election window, according to Newmark Research. Institutional and private capital remain very active in the Western Region, underscoring the competitive landscape for high-quality industrial assets like those in the Seattle Infill Industrial Portfolio.
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