Recent Transactions

The lease and sale comparables below are pulled from recently closed industrial leases and sales in the Puget Sound region that we have either direct involvement in, or have received the information from sources deemed reliable. If you would like more specific detail about any of these deals, or if there are other transactions in the market that you are curious about, please contact us.

Recent Industrial Leases
Start Date Property City Total SF (office) Deal Points
10/1/17 Fife I-5 Commerce Center Fife 250,490 (12,000) new 12-year deal, 3 months free, $0.48 shell/$0.95 ofc, LL provided TI: significant electrical upgrade, 43 door packages, lighting upgrade; 3% bumps
6/1/17 Kent Corporate Park Kent 10,712 (1,700) 5-year new deal, 1 month free, $0.65 shell/$0.85 ofc, AS-IS deal,
3% bumps
5/1/17 West Valley 212th Kent 21,988 (1,500) 5-year new deal, 1 month free, $0.53 shell/$0.90 ofc, AS-IS deal,
3% bumps
5/1/17 Valley Centre Corp Park Auburn 139,009 (4,299) 5-year renewal, 3 mts free, $0.43 shell/$0.85 ofc, $320k in TI, 3% bumps
4/1/17 Des Moines Creek BP Des Moines 33,338 (3,000) 7-year deal, 6 mts free, $0.61 shell/$0.95 ofc, $535k in improvements, 3% bumps
3/1/17 Valley Ave BP Puyallup 18,247 (3,068) 7-year deal, 3 mts free, $0.51 shell/$0.95 ofc, new paint/carpet, 3% bumps
3/1/17 Park 277 Auburn 79,296 (3,340) 5-year deal, 1 mts free, $0.49 shell/$0.85 ofc, new office TI, 3% bumps
3/1/17 Kingsport Industrial Park Kent 205,250 (16,667) 5-year renewal, no free rent, $0.43 shell/$0.75 ofc, $205k in TI, 3% bumps
2/1/17 Sumner 167, bldg 2 Sumner 89,927 (3,354) 5-year deal, 4 mts free, $0.45 shell/$0.94 ofc, BTS ofc, 7 EODs, 3% bumps

Recent Industrial Sales
Closing Date Address City Total SF Deal Points
6/20/17 3400 E Valley Hwy Renton 30,000 D&C Investments paid $4,775,000 ($159.17/sf). Buyer is rumored to be occupying the building as an owner/user
5/19/17 109 S Tillicum St Renton 10,000 Pacific Coast Marine Industries paid $1,590,000 ($159.00/sf), buyer will occupy as an owner/user
5/11/17 3102 B St NW Auburn 21,975 D&E Enterprises paid $2,275,000 ($103.53/sf), buyer initially intended to occupy the property as an owner/user, but may lease it out instead as an investment
4/21/17 25-29 S Hanford St Seattle 35,400 Terreno Realty paid $5,940,000 ($167.80/sf) for the partially leased investment (28% vacant at closing), pro-forma cap rate of 5%
4/19/17 16650 W Valley Hwy Tukwila 6,050 A private investor paid $1,132,500 ($187.19/sf) for the fully leased investment, cap rate is TBD, off-market deal
4/11/17 21 49th St NE Auburn 1,300 (0.77 acres lot) JTM Construction paid $990,000 based on the land area ($29.55/sf land). Buyer will occupy the property as an owner user
4/5/17 339-341 Railroad Ave S Kent 7,862 A local painting company paid $850,000 ($108.12/sf). Buyer will occupy the building as an owner/user
3/31/17 420 37th St NW Auburn 21,600 Teutsch Partners paid $2,650,000 ($122.69/sf) for the fully leased investment property, 5.75% cap rate
3/14/17 5417 12th St E Fife 27,025 BPI Medical paid $3,550,000 ($131.36/sf). Buyer intends to occupy the building as an owner/user