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CenterPoint Claims Kent Distribution Center for Nearly $45M
Oak Brook, IL-based CenterPoint Properties acquired a distribution facility at 19826 Russell Rd. in Kent from an entity related to Iron Mountain for nearly $45 million. The 240,106-square-foot facility covers just 31% of the 17.58-acre property and is located in the key Kent Valley industrial market.
The building has undeveloped land behind it, providing future development flexibility or an opportunity to expand the on-site parking. The shallow-bay facility is equipped with 24- to 32-foot clear heights, 88 dock-high doors and 176 auto stalls. With immediate access to I-5, the site is near the Port of Seattle, Port of Tacoma, and King County Airport and Seattle-Tacoma International Airport.
CenterPoint’s Ryan Dunlap says “The North Kent Valley is the proverbial bellwether for the Puget Sound industrial market. The combination of infrastructure, planning and proximity have positioned the market as a premier West Coast location.”
JLL’s Jason DeWitt brokered the sale-leaseback with the seller.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
