Recent Transactions

The information provided below is 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
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
2/1/17 Valley Freeway Corp Park Kent 24,627 (1,214) 10-year deal, 4 mts free, $0.48 shell/$0.85 ofc, new HVAC, paint/carpet, 3% bumps
1/1/17 IAC Port 167 Puyallup 125,919 (1,301) 3-year deal, 4 mts free, $0.45 shell/$0.85 ofc, minimal TI, 3% bumps

Recent Industrial Sales
Closing Date Address City Total SF Deal Points
2/23/17 18565 142nd Ave NE Woodinville 31,537 JTN Properties paid $5,700,000 ($180.74/sf), buyer will occupy as an owner/user
2/13/17 700 SW 34th St Renton 41,323 IPT paid $6,487,711 ($157/sf) for the fully leased investment, cap rate is TBD, off-market deal
2/3/17 637 S Lucile St Seattle 45,000 Terreno Realty paid $7,750,000 ($172.22/sf) for the fully leased investment, pro-forma cap rate of 6%
1/31/17 502 Boundary Blvd Auburn 62,797 Seoul Trading paid $9,009,075 ($143.46/sf), buyer will occupy as an owner/user
1/31/17 3001 E Valley Rd Renton 30,950 A local i-502 business paid $5,000,000 ($161.55/sf), buyer will occupy as an owner/user
1/13/17 3509 72nd St Tacoma 11,410 The Puyallup Tribe paid $1,575,000 ($138.04/sf) for the fully leased investment, cap rate is TBD, off-market deal
1/11/17 22011 76th Ave S Kent 83,600 Earle M Jorgensen Co paid $8,850,000 ($105.86/sf), buyer was a tenant in the building and will occupy as owner/user
12/21/16 917 Central Ave S Kent 14,500 Centerpoint Properties paid $4,900,000 ($18.35/sf land) for apx 6.2 acres of land with 2 existing bldgs, purchased for future redevelopment
12/16/16 7825 S 180th St Kent 185,092 Gateway Pacific Properties paid $23,200,000 ($125.34/sf) for the fully leased investment, cap rate of 5.5%