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7/28/26
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A 782.8k sf industrial facility in Frederickson, WA traded hands in a recent $174 mil ($222/sf) transaction. The property is fully leased to Harbor Freight Tools, an American tool and equipment retailer and offers an average weighted lease term of 8.8 years.
Built in 2024, the property is located at 6920 192nd St East, west of Meridian. It comprises a single industrial building featuring modern warehouse and distribution specifications. Designed for large-scale logistics operations, the building includes high clear heights, ample dock-high loading positions and expansive truck courts.
Situated in Frederickson, the property benefits from direct access to major transportation corridors, including State Route 512 and Interstate 5, facilitating efficient distribution throughout the Seattle-Tacoma region and the broader Pacific Northwest. The location offers proximity to the Port of Tacoma and Sea-Tac International Airport, enhancing connectivity for regional and national logistics. The area is supported by a strong labor pool and nearby amenities, including dining options and service providers, making the property an attractive choice for logistics and distribution tenants.
The Cushman & Wakefield team of Bryce Aberg, Jeff Chiate, Matthew Leupold, Charlie Jacobs and Jeffrey Cole represented the seller in the transaction. The property was acquired by an institutional industrial investor.
“This transaction shines a light on the continued demand for institutional-quality logistics assets in core Pacific Northwest locations,” said Aberg. “With its significant scale, long-term tenancy and strategic location within a high-growth industrial corridor, this facility offers stable income and operational advantages that set it apart from other assets in the market.”
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