LAKEWOOD, Wash. (August 2020) – Vector Development Company, a Pacific Northwest commercial real estate development, investment and asset management firm, will build a 159,000-square-foot warehouse and distribution center located at 14702 Woodbrook Drive SW in Lakewood, Wash.
Vector is developing American Lake Logistics with The Carlyle Group, one of the world’s largest and most diversified global investment firms. Designed by SynThesis, the South Puget Sound facility will be built by Pennon Construction.
The industrial facility will be built on eight acres and will have 27 dock doors and 21 spaces for trucks and trailers. The Tacoma office of Lee & Associates will be marketing the space to be leased to transportation, logistics, distribution and manufacturing tenants.
American Lake Logistics is located one mile from I-5, adjacent to Joint Base Lewis-McChord with full diamond interchange access off the newly constructed Thorne Lane exit.
“The City of Lakewood is excited to add to American Lake Logistics’ distribution and industrial center to the Woodbrook Business Park and the surrounding JBLM military base community,” said Becky Newton, economic development manager for the City of Lakewood. “The area also draws from a skilled Pierce County labor force, and local colleges including Clover Park Technical College and Pierce College.”
American Lake Logistics also is a part of Opportunity Zones, which encourages long-term investment in qualified regions by reducing overall tax-burden on the investor.
Site work has begun and construction is expected to be completed by the first quarter of 2021. The structural engineer is Shutler Consulting Engineers, the civil engineer is Barghausen and the geotech engineer is Terra Associates.
“We are interested in additional development projects and build-to-suit opportunities throughout western Washington,” said Tyler Litzenberger, president of Vector Development Company, which has developed notable area projects, including MI-5 Business Park, a 247,000-square-foot business park in in Marysville; Fennel Creek Industrial Park, a 202,000-square-foot, build-to-suit industrial headquarters in Bonney Lake; Tacoma I-5 Distribution Center, a 78,000-square-foot industrial facility in Tacoma; and an office building in Olympia for the Washington Realtors, among others.
About Vector Development Company
Based in Kirkland, Wash., Vector Development Company is a Pacific Northwest commercial real estate development, investment and asset management firm. The company has a successful history of involvement with multiple suburban and high-rise office and industrial development projects. Vector offers build-to-suit development and asset management services, and invests and develops real estate for its own account, long-term hold or merchant projects.
About The Carlyle Group
The Carlyle Group (NASDAQ:CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $221 billion of assets under management as of June 30, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,800 people in 31 offices across six continents.