Home Commercial 15-Acre Manufacturing Property in Seattle’s Georgetown Neighborhood Sells for $13.75MM

15-Acre Manufacturing Property in Seattle’s Georgetown Neighborhood Sells for $13.75MM

By Jack Stubbs

The Georgetown neighborhood in South Seattle—adjacent to Boeing Field and south of the city’s downtown core—has been evolving significantly over the last several months, as new projects continue to shape the neighborhood. And a recently-recorded transaction indicates that activity in the area continues.

On Friday, March 8th, a 15-acre manufacturing property sold for $13.75 million, King County records show. The buyer was the Seattle office of Crowley Liner & Logistics, a branch of Crowley Maritime Corporation, which is a marine transportation and logistics company. The seller was Denovo Seattle LLC, an entity affiliated with Pacific Realty Advisors LLC. 

The seller did not respond to calls about the transaction in time for the publishing of this story. 

The parcel, located at 7400 Eight Ave. S., is a manufacturing/waste management terminal that totals 15.86 acres, according to public documents. Located at the corner of S. Othello St. and 8th Ave. South, the property sits directly adjacent to Boeing Field. It is not entirely clear how much space is currently available at the property, though Google Maps lists one of the tenants as Boom Boys Cranes. 

There are a number of manufacturing/warehouse buildings sitting in close proximity to the property, some of which include Recology CleanScapes, Seattle Iron & Metals Corporation and United Rentals-Trench Safety. 

The property is approximately five miles south of downtown Seattle via Interstate-5 and nine miles north of Sea-Tac Airport. 

Originally founded in 1892, Crowley Maritime Corporation is a U.S.-owned and operated marine solutions, transportation and logistics company that provides services in domestic and international markets through four operating lines, according to the company’s web site. 

The areas around Georgetown and the South Park neighborhood have for a long time been identified as sits where environmental cleanup is needed. The Duwamish Valley, which runs along the 5.5-mile Duwamish River has been identified by the EPA as a Superfund site, meaning that it poses a risk to human health and the environment. 

In June 2018, Mayor Durkan released the Duwamish Valley Action Plan—a multi-departmental effort led by the Office of Sustainability and Environment and the Office of Planning and Community Development—in an effort to increase environmental progress and increase economic investment in the neighborhoods through more than 170 underway and planned projects in the Duwamish Valley. 

As another example of activity occurring in Georgetown, in mid-January 2019, ScanlanKemperBard secured $32.5 million in acquisition financing for a mixed-use campus at the site of the Original Rainier Brewery, a four-building campus totaling 187,466 square feet.