(EDITOR’S NOTE: According to public documents, the property, located at 4911 180th St. E in Tacoma was sold for $114.4 million. The seller and developer of the asset was an entity associated with Panattoni Development Co.)
Dalfen Industrial announced the acquisition of a newly developed, 3-building, 711,855 square feet industrial park in the Seattle suburb of Tacoma, WA. The property is in close proximity to I-5, SR-512, and the Port of Tacoma.
The Tacoma Supply Chain Center, located in Frederickson off of 176th Street, was acquired off-market and is situated within the broader Pierce County industrial submarket of Seattle. This submarket experienced 67% of Seattle’s total net absorption in 2020 and continues to be in high demand. Tenants are migrating south of Seattle’s Kent Valley submarkets in search of better value, newer/more functional product, and a stronger labor market.
“What’s occurring in Frederickson is a testament to the continual evolution of Seattle and growing demand in the submarkets south of the Kent Valley. The property provides best-in-class, modern property amenities and ideally meets the tenant demand of the area,” said Rich Weiss, Market Officer for Dalfen’s west region.
“Dalfen is focused on expanding our west coast portfolio, with this asset being the third acquisition in two months,” said Sean Dalfen, President and Chief Investment Officer. “The last mile fundamentals of this project are outstanding with close proximity to the Port of Tacoma and major thoroughfares, as well as a large workforce and customer base.”
Over the last 12 months, Dalfen Industrial has acquired and developed well over $1.5 billion of industrial properties in key metros across the United States.
Dalfen Industrial LLC is one of the nation’s largest buyers and developers of industrial real estate and is a leader in the last-mile property sector. Their investment focus is on strategically located urban infill warehouses and distribution buildings. Dalfen currently owns and operates millions of square feet of premier industrial properties throughout the United States.