(EDITOR’S NOTE: the sales price for the 17 acres was approximately $5.8 million, or roughly $341,176 per acre, according to a representative from Colliers’
Seattle, June 25, 2018 – Real estate investment company Bertch Capital Partners recently purchased land totaling 17 useable acres in Sumner, WA. The company will develop two, Class A, state-of-the-art warehouses that will total over 200,000 square feet on the site. The warehouses are expected to be completed in 2019.
Colliers International’s Bill Condon and Matt McGregor acted as advisors to Bertch Capital in the acquisition process and negotiations, and will continue as owner’s agent once the buildings are completed.
Bertch Capital made this purchase for several reasons, with a focus on location. The property is in heart of one of the most dynamic industrial markets in the Puget Sound. Sumner is seeing strong tenant demand, especially for newer buildings that create an impressive company image. This environment has resulted in limited options and a very low vacancy rate in the city and across the Kent Valley.
“This project will be one of a kind in the marketplace,” according to Mr. Condon. “It will offer tenants the ability to lease a state-of-the-art building in a location that offers great proximity to Highway 167 and the Port of Tacoma with best-in-class views of Mt. Rainer.” The warehouses will provide tenants with a unique, campus-like setting, great functionality and flexible size ranges.
Another project Bertch Capital currently has underway is Seaway West, an industrial development located in the Seaway submarket of Everett.
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