By Meghan Hall
Irving, Texas-based Arcis Equity has purchased a Seattle industrial site. According to records on file with King County, the private equity firm paid $40.015 million for several parcels along Martin King Jr. Way S. The seller of the property was an entity affiliated with Sea Cliff, N.Y.-based Champion Properties LLC.
The asset is located at 9747-9777 Martin Luther King Jr. Way South. Data from the King County Department of Assessments shows that combined the parcels total more than 7.4 acres. The property is also developed with a 26,380 square foot warehouse constructed in 1979. Currently, it is used by Nelson Trucking, which markets itself as the “Northwest’s premier transportation specialist.” The company offers general freight, heavy haul, machine rigging and warehouse services, according to its website.
The project site is located just off of Interstate 5, in a commercial part of town. Javier’s Auto Repair, GTS Interior Supply, Starline Luxury Coaches and others call the area home. The property is also within minutes of King County International Airport and major companies such as Boeing and Amazon.
Arcis Equity is mainly focused on acquiring equity and debt investments in the commercial real estate and leisure sectors. Generally, the firm’s investments have ranged in size from $5 million to $320 million. Many of them have been focused on the golf industry.
“Arcis’ strategic objective is to generate superior risk-adjusted returns by creating strong partnerships with management and driving value creation through growth – not financial engineering,” the company’s landing page states.
Founded in 2013, Arcis has since acquired TPC at Snoqualmie Ridge in Seattle, The Club at Pradera in Denver, Tartan Fields Golf Club in Columbus, Ohio, and others.