Sale of Tacoma Building Sets Cap Rate Record for Builders FirstSource

A Builders FirstSource property near Tacoma, Wash., has moved for $22 million in an off-market deal brokered by Matthews Real Estate Investment Services. 

The property, at 1331 208th St E, Spanaway, Wash., closed with a 4.85 percent cap rate – setting a new all-time record for Builders FirstSource facilities, according to a news release. In addition, the facility includes a brand-new Truss Plant that is set to be completed in Spring 2022.

Senior Associate Brett Davis and First Vice President and Senior Director Alexander Harrold handled the transaction. 

“This facility was attractive to industrial investors nationwide due to the long-term lease in place with a Fortune 500 company,” Davis said. “This site is also located on the outskirts of a strong industrial park leased to national tenants.” 

Harrold, with an eye on the overall markets, adds “… the sale further proves the strong interest for long-term industrial investments nationwide. By sourcing a qualified and motivated buyer we were able to execute the deal at a record cap rate and above-market price.”