The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 24, 2024
 Search RENTV
 The REview
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Washington Industrial Property Acquired by Owner/User in $41 Mil Deal


The Cascade Building, a 10.33-acre industrial park located in the Eastown Jobs Center of Bonney Lake, WA, was acquired by Walter E. Nelson Co in a $41 mil transaction. The property includes 184k sf of building space.

The Cascade Building is at 9713 233rd Avenue East in Bonney Lake. It is a unique, Class A industrial tilt-up structure featuring all the amenities of modern industrial construction in a campus-like setting.

The buyer is a Portland-based privately owned supplier and manufacturer of facility cleaning supplies and equipment. They are fond of the Bonney Lake area and are moving from their current location in Auburn, WA.

Matt McLennan, SIOR, CCIM, and Kraig Heeter, SIOR, with Kidder Mathews represented the seller, Cascade RCL.

“It is rare to see an owner/user sale of a building this size, let alone a transaction this size in the current market,” said McLennan. “We had to get creative on structuring the close date to accommodate a 1031 exchange, as well as factor in a leaseback for the seller’s business to facilitate the sale and the eventual move-in of the new owner.”

Peak Design, the developer of The Cascade Building, is a prominent developer in the Bonney Lake submarket and Pierce County. They are currently focused on their next project, Peak 410, which features up to seven buildings and nearly 1 msf of additional Class A industrial space.

Return to the Archive 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