A six building warehouse and office asset, the Lakewood Business Park, just sold to an LLC associated with San Francisco-based Berkely Partners for $12,950,000 or $94.87 per square foot in a deal that closed May 12th. The seller was an LLC associated with Newport Beach-based WLA Investments.
The property, located at 10029 S. Tacoma Way in Lakewood, is an industrial flex space that sits on a 7.72 acre lot. The 136,500 square foot complex is located in the Lakewood Business Park. The park includes six office and warehouse spaces that range in size from 800 square feet to 22,000 square feet.
According to an NAI Puget Sound Properties flyer for the property, the site offers yard space of about 100,000 square feet as well as abundant surface parking. The park was recently remodeled and has grade level loading doors.
E2 Systems, Mayes Testing Engineers, Country Aire Technologies, ADT Security Systems, Omnitek Systems Solutions and NSB Flooring are listed as tenants of the Lakewood Business Park.
According to Berkeley Partners’ website, the group doesn’t have any assets in Washington state, which the exception of this transaction, though the property isn’t listed on the site yet. The group and its entities own and operate over five million square feet of light industrial real estate in the U.S., particularly in Texas, Tennessee, California, Georgia and Florida.
WLA Investments’ website lists the Lakewood Business Park as the only asset the group had in the state. Primarily, the group’s assets are located in Utah, California, Arizona, Colorado, Nevada and Texas.