August 22, 2022 (Seattle, WA) – West Coast industrial real estate developer Slattery Properties has commenced construction on their newest industrial warehouse space at 8551 Commerce Place Drive NE in Lacey, WA. The 87,060 SF facility is the 8th industrial building located in Thurston County developed by the Seattle-based owner. The walls are tilted on the forthcoming for-lease warehouse and manufacturing space, currently known as Commerce Place Industrial, and full completion is anticipated in Q4 of this year.
With the completion of the project, Slattery Properties’ under-roof industrial holdings will exceed 1.0mm SF in Thurston County. Slattery has developed over 5.0mm SF of industrial space in total, with collective real estate holdings of over 2.0mm SF throughout the Pacific Northwest and Alaska.
The northeast corner of Lacey continues to rank as one of the most in-demand submarkets in the Puget Sound for industrial and warehouse space given its accessibility to I-5 and split proximity to the ports at Tacoma and Seattle, as well as Portland. Equally, the recently completed diverging diamond interchange at I-5 and Marvin Road has vastly improved access to the traffic corridors of Marvin Road, Willamette Road and Hogum Bay Road for both passenger vehicles and commercial trucks.
“The traffic improvements along this portion of the I-5 corridor illustrate how proper infrastructure investments directly affect the economic output of a region. The Lacey submarket has exploded with growth and is now nearly fully developed out. Slattery has been able to capitalize on that growth at a pivotal moment because of their longevity as an Owner/Operator in the market”, said Vanessa Herzog, Principal at Lee & Associates Commercial Real Estate Services, who exclusively represents Slattery Properties in their regional industrial leasing and sales activity.
ABOUT SLATTERY PROPERTIES, INC.
Slattery Properties, Inc. is a private multi-generational real estate investment and management firm. With over 25 years of experience, Slattery pursues value-add and opportunistic deals throughout the Pacific Northwest and Alaska. To date, Slattery has developed over 5.0mm SF of industrial space with collective real estate holdings totaling over 2.0mm SF.
ABOUT LEE & ASSOCIATES
Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients.