By Kate Snyder
A transaction in Puyallup shows that the city is continuing to attract attention from investors. In a recently recorded sale, a swath of undeveloped land traded hands for $27.5 million, according to Pierce County public records. Knutson Farms, Inc., was listed as the seller, and the buyer was listed as Knutson Farms Industrial Pal LLC, an entity that shares an address with Washington Capital, a real estate management company based in Seattle.
The land is located at 7525 134th Ave E, west of the Puyallup River and south of State Route 410, and consists of approximately 72 acres, records show. Adjacent to the property across the river are residential communities. Nearby businesses include Safeway, Absher Construction and Toscanos Italian Grill, as well as a number of local schools. Any plans the buyer has for the land are not yet clear.
Knutson Farms, Inc., is “one of the nation’s largest producers of rhubarb, both field and hothouse grown,” according to the company’s website. The farm was established in Sumner in the 1930s and features vintage buildings and is the host of a variety of farm-centric events every year. Its field flower operation grows tulips and daffodils while its greenhouses grow tulips, zonal geraniums, supertunias and ivy geraniums.
“We value exceptional communication with our customers to deliver our products at the peak of their freshness, and experiences that are true to their origins,” the farm’s website states. “This is our guiding philosophy and we strive to improve upon it with every succeeding season.”
Back in 2014, plans were submitted to the city for the development of a warehouse/industrial park facility on a 162-acre site that included the property involved in the recent transaction, according to public records. The project was intended to be completed in two phases with 2.6 million square feet in total building capacity that included associated grading, paved parking and all the required infrastructure. According to the project’s website, a 438,065 square foot building that is planned to be the first of an 8-building industrial park has been leased as of April 2021. The project is currently under ongoing review by the city.
