Hogum Bay Logistics Center 80% pre-leased prior to completion
Seattle, Wash. (May 2, 2019) – IDS Real Estate Group, in a joint venture with an institutional pension fund, announced today that it has leased 74,525 square feet of warehouse distribution space to WestRock Corporation at Hogum Bay Logistics Center (HBLC), a 1.1 million square foot, three-building logistics campus located at 8000 Hogum Bay Road NE in Lacey, Washington. The lease brings HBLC to 80% leased prior to the completion of construction.
WestRock is a leading provider of paper and packaging solutions with over 50,000 employees located in more than 320 manufacturing facilities, design centers, research labs, and sales offices around the world. WestRock is joining Uline Corporation who consolidated multiple facilities into 800,000 square feet at HBLC in the fourth quarter of 2018.
The marketing team of Kidder Mathew’s Evan Parker and Lee & Associate’s Vanessa Herzog, along with IDS Real Estate Group’s Dan Sibson, Rob Fuelling, and John Quinn represented the landlord. WestRock was represented by Matt McGregor and Douglas Biggs of Colliers International.
IDS Real Estate Group is responsible for the development, leasing, and management of Hogum Bay Logistics Center. “Companies are excited to move their operations to the city of Lacey which is a growing business-friendly community. Hogum Bay Logistics Center provides brand new buildings, state-of-the-art building systems, and excellent access to the Interstate 5 freeway which allows tenants to efficiently and cost-effectively service both the Seattle and Portland submarkets,” said Dan Sibson, a senior vice president at IDS Real Estate Group.About IDS Real Estate Group
Now in its 32nd year of business, IDS Real Estate Group is a commercial real estate services company focusing on the Western United States with offices in Seattle, Los Angeles, San Diego, Orange County, and San Francisco. The company has a portfolio that exceeds 33 million square feet and is currently developing over three million square feet with institutional and individual investor partners. For more information, visit idsrealestate.com.About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with 800 real estate professionals and staff in 22 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $9 billion in transactions, manages over 50 million square feet of space, and conducts over 1,600 appraisals annually. For more information, visit kiddermathews.com.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 their clients. For the latest news from Lee & Associates, visit lee-associates.com.