Bridge Industrial has bought a two-building industrial portfolio totaling 315,422 sq. ft in Kent, Wash. An entity affiliated with Hyperlink Logistics bought the property for $64.2 million, in line with King County public information.
The client additionally secured a $46.7 million originated by PGIM Actual Property, the identical supply exhibits. CBRE brokered the deal on behalf of the vendor.
The portfolio consists of two industrial buildings dubbed Kent Valley DC II and Kent Valley DC IV, at 6111 S. 228th St. and 6205 S. 231st St. Constructed between 1995 and 1997, the 2 properties characteristic clear heights between 24 and 30 ft, ample column spacing, sky lights, ESFR sprinkler programs, workplace build-out elements, dock levers and bumpers and a complete of 397 car parking spots, in line with CommercialEdge.
Positioned some 18 miles from downtown Seattle, Kent Valley DC II and Kent Valley DC IV occupy roughly 15 acres near Interstate 5, in addition to to state routes 167 and 516. Seattle-Tacoma Worldwide Airport is 5 miles away, whereas King County Worldwide Airport is 14 miles away.
CBRE Govt Vice Presidents Paige Morgan, Andrew Stark and Andrew Hitchcock, along with Vice Chairman Brett Hartzell, represented the vendor.
Seattle attracting vital offers
As of November, Western industrial markets continued to occupy high positions for industrial funding quantity, six of them recording year-to-date figures above $1 billion, in line with a latest CommercialEdge report.
Gross sales in Seattle totaled $1 billion—greater than double the 2023 quantity. The market additionally posted one of many highest sale costs per sq. foot within the nation, at $208 per sq. foot, rating sixth among the many most priciest metros within the U.S.
Latest industrial offers within the space embrace EQT Exeter’s $81.5 million buy of a 202,464-square-foot constructing in Tukwila, Wash. Amazon totally occupies the metro Seattle property.
