Home Finance SeaTac Packaging Purchases 120,234 SQFT Warehouse, Surrounding Parcels in Tacoma for $20MM

SeaTac Packaging Purchases 120,234 SQFT Warehouse, Surrounding Parcels in Tacoma for $20MM

SeaTac Packaging, Tacoma, Puget Sound, Pierce County, Carlson Paving Products Inc, Frederickson, Astec Industries, Chattanooga, Puyallup, MCA Realty, Orange County, Auburn Business Center, Auburn

By Kate Snyder

The industrial market continues to see sales activity in the Puget Sound region. Several parcels in Tacoma, including one that contains a 120,234 square foot warehouse, traded hands for $19.9 million, according to Pierce County public records. The seller was Carlson Paving Products, Inc., and the buyer was an entity affiliated with SeaTac Packaging.

The building is located at 18425 50th Ave. E and sits on 4.9 acres on the south end of Tacoma, in the Frederickson area. Records show that the sale also included several adjacent parcels. At least one of the parcels includes a 4,430 square foot industrial building that was built in 1980. The site is near both Frederickson Power and Tacoma Rail.

Carlson Paving Products, Inc., is a subsidiary of Astec Industries. Astec Industries is based in Chattanooga, Tenn., and manufactures specialized equipment for asphalt road building, aggregate processing and concrete production, according to the firm’s website. The company was founded in 1972 and acquired Carlson Paving Products more than 20 years ago.

SeaTac Packaging is an independently owned and professionally operated manufacturing company based in Puyallup, according to the firm’s website. It was founded in 1994 and focuses on the design, manufacture and delivery of a wide variety of multiwall and flexible packaging. The company primarily serves industries related to food products and ingredients, animal feed, agricultural products, chemical products and fishing.

Industrial sales have been recorded at a steady pace throughout the Puget Sound region.

Earlier this month, MCA Realty, a full-service real estate investment and management company based in Orange County, Calif., acquired the Auburn Business Center in Auburn for $9 million, or approximately $133 per square foot. The  67,205 square foot five-building industrial park is located at 4040, 4044, 4050, 4054 and 4058 Auburn Way North.