Rexel USA Expands Footprint with Lease of Distribution Center Near Ports of Seattle/Tacoma
SEATTLE — February 3, 2022 — The Seattle office of Duke Realty Corporation (NYSE: DRE), the leading domestic only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, inked a lease agreement with Rexel USA, the U.S. division of Rexel Group, one of the world’s largest electrical distributors, for its facility at 1510 Puyallup Street. The company announced the start of the 190,042-square-foot speculative development in Sumner, Washington in October 2020. Completed in 2021, the facility is now 100 percent leased to Rexel USA.
“Demand for quality space in the Kent Valley submarket continues to be strong as evidenced by a less than five percent vacancy rate,” said Mark Hosfeld, vice president and market leader for Duke Realty’s Seattle operations. “It’s a submarket with limited first-generation logistics space and our investment in redeveloping the site provides Rexel USA with one of the only modern distribution facilities available with close proximity to ports and major thoroughfares.”
Rexel USA will utilize the facility as a regional distribution center for its Platt Electrical Supply division. The 1510 Puyallup Street distribution center will serve as the company’s the Washington state market which is currently served out of Beaverton, Oregon.
Duke Sumner Logistics Center was developed on a speculative basis in the Kent Valley, Seattle’s primary industrial submarket. It is strategically located just two and a half miles from Highway 167, ten miles east of the Port of Tacoma, and 34 miles from the Port of Seattle. The facility was constructed to LEED® certification standards — meeting requirements for environmentally sustainable construction and site development, water savings, energy efficiency and construction waste management.
Zac Snedeker with CBRE represented the tenant in lease negotiations while Duke Realty was represented by Wilma Warshak at WAREA and Mark Hosfeld, the company’s Seattle market leader.