Home AEC CenterPoint Properties Purchases South Seattle Industrial Site for $75.85MM

CenterPoint Properties Purchases South Seattle Industrial Site for $75.85MM

EQT Exeter Property Group, EQT Exeter Industrial Value Fund VI, Pennsylvania Public School Employees’ Retirement System, San Francisco Bay Area, Seattle, Southern California, Los Angeles City Employees’ Retirement System, LACERA
Photo by Tyler Casey on Unsplash

Seattle, Wash. (September 12, 2022) – CenterPoint Properties has purchased a 19.5-acre industrial site in South Seattle for $75,850,000. This was the biggest land sale in South Seattle in 2022. Kidder Mathews Executive Vice President Chris Corr and Senior Vice President Matt Murray represented both CenterPoint as well as the seller.

With yard in high demand, the property is a trophy asset as the largest yard to scale in South Seattle. It is situated directly between Highways 99 and 509 at 8100 2nd Avenue South and is only several miles from Port of Seattle. CenterPoint has retained Kidder Mathews as the leasing agents for the property as well.

“Both buyer and seller were committed to working together and getting through the difficult market conditions, while working hand in hand to complete our due diligence,” said Murray. “In the end, it was a great effort on both sides and should prove to be a great long-term investment by the buyer.”

“We were humbled to be trusted by our seller in getting this generational asset over the finish line,” said Corr. “We are excited to continue to add value to this asset over time on the leasing side.” 

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 — 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. For more information, visit centerpoint.com.

About Kidder Mathews
Kidder Mathews is the largest independent commercial real estate firm on the West Coast, with 900 real estate professionals and staff in 20 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, asset services, consulting, project and construction management, and debt & equity finance services for all property types. The firm performs $10.9 billion in transactions, manages 52 million square feet of space, and conducts over 2,600 appraisals annually. For more information, visit kidder.com.