Home Commercial CenterPoint Acquires Warehouse Near Port of Tacoma for $25.5MM

CenterPoint Acquires Warehouse Near Port of Tacoma for $25.5MM

CenterPoint, New Sound Transportation, Benaroya Capital, Fife, Port of Tacoma
Courtesy of CenterPoint

(EDITOR’S NOTE: According to public documents, CenterPoint acquired the property for $25,530,750.00. The seller was New Sound Transportation, LLC. Records also indicate that New Sound Transportation bought the property from Benaroya Capital Company in December of 2015 for $3,240,475.)

OAK BROOK, ILLINOIS – CenterPoint Properties has purchased a facility at 7401-7495 26th Street East in Fife, WA. The high-throughput 54,058 SF building sits on 8.65 acres, giving it the lowest coverage of any Class A warehouse in the Puget Sound area.

The property has a substantial excess yard component, with parking for 150 trailers and expansion capability. The four-year-old building is an ideal last-mile facility with a 30’ clear-height, an ESFR sprinkler system, 16 dock-high doors and seven drive-in doors. It also includes a 12,329 SF office and 20,000 SF of freezer/cooler space.

“This Class A, low-coverage asset fits perfectly into our infill logistics strategy,” said Bob Andrews, CenterPoint Senior Vice President of Asset Management.

The building will have immediate frontage on the SR-167 expansion. The expansion is well underway and will continue to ignite this Fife corridor. Seattle-Tacoma International Airport is 22 miles from the facility, while the Port of Tacoma is less than 6 miles away. The Port is experiencing surging imports, helping the Seattle area remain as one of the most competitive industrial real estate markets in the U.S.

Nicholas Ratzke and Scott Price of the Neil Walter Company brokered this sale-leaseback transaction.

For CenterPoint Investment, Development and Asset Management opportunities in the West Region, please contact:

Jim Clewlow
Chief Investment Officer
(630) 586-8176
William Lu
Senior Vice President
(949) 872-0021
Bob Andrews
Senior Vice President
(213) 488-8689

About CenterPoint Properties
CenterPoint is an industrial real estate company made up of dedicated thinkers, innovators and leaders with the creativity and know-how to tackle the industry’s toughest challenges. And it’s those kinds of problems—the delicate, the complex, the seemingly-impossible—that we relish most. Because with an agile team, substantial access to capital and industry-leading expertise, those are exactly the kinds of problems we’re built to solve.