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8/18/26
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Steel Peak has acquired a 3.09-acre industrial outdoor storage (IOS) property located at 1031 4th Avenue North in Kent, Washington for $9 mil. It is located at 1031 4th Avenue North, with direct frontage on SR-167 and situated just minutes from the I 5 and SR 99 Freeways, enabling efficient north south freight movement throughout the Puget Sound region.
The property includes a 23.5k sf industrial building featuring five oversized grade-level doors, seven bridge cranes, approximately 2.5k sf of office space, and a fully paved and fenced yard. It offers fast reach to Seattle, Tacoma, SeaTac Airport, and regional population centers, supporting both regional distribution and service based industrial uses.
This is Steel Peak’s fourth IOS property acquisition in the Seattle area in the past 12 months and 15th overall acquisition since the company was founded in January 2024. Will Schmidt of CBRE represented Steel Peak in the purchase.
“This acquisition checks a lot of the boxes we look for in IOS,” said Blake Rodgers, Principal at Steel Peak. “The property sits in a dense, infill industrial location in the Kent Valley with direct visibility from Highway 167, making it a site that would be extremely difficult to replicate today. It’s also highly functional, with five grade-level doors and a fully paved yard that supports a wide range of industrial uses. Most importantly, the existing tenant operates an essential industrial business and is exactly the type of tenant we want to keep at the property and in our portfolio for the long term.”
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