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Amazon-Leased Industrial Property Trades for $132M
Dermody Properties acquired an Amazon-leased industrial campus in Lacey for $132 million, reported the Puget Sound Business Journal. Bridge Industrial developed the 717,000-square-foot campus and was its seller.
The three buildings were delivered in 2019 and 2020, and the final price works out to roughly $184 per square foot. The campus, located on the 3300 block of Hogum Bay Road Northeast, has been renamed Lacey I-5 Logistics Center.
The site is fully leased, with four tenants besides Amazon, including Olympia-based Mud Bay pet supplies. Structures range in size from 98,000 to 514,000 square feet, and Amazon leases the largest building.
“This project is strategically located and offers difficult-to-replicate benefits for tenants within the land-constrained Puget Sound industrial market,” said Ben Seeger, Northwest region partner at Dermody. “From significant trailer and auto parking to multiple EV charging truck stall locations, we are excited to be in a position to acquire a property like this one in such a competitive market.”
