Oak Brook, IL-based CenterPoint Properties acquired its first property in Renton. The asset at 811 S.W. Grady Way was sold by Renton Investments LLC for nearly $11 million.
The 39,606-square-foot facility covers 21% of the 4.39-acre property and includes an excess yard. It offers more than 400 feet of I-405 freeway frontage and is situated between two key Kent Valley transportation corridors, I-5 and SR-167.
CenterPoint’s Bob Andrews says, “This asset’s spacious yard component and low coverage configuration for enhanced car and trailer parking give us great flexibility to cater to a wide variety of users in the future, from port to e-commerce and even retailers.”
Kidder Mathews’ Peter Wooding and Chris Corr brokered the off-market transaction.
CenterPoint’s Evan Lippow adds, “Our arsenal of port-proximate last-mile properties is already formidable here, and our entry into the Renton submarket affirms our commitment to our infill strategy.”
It was CenterPoint’s fifth acquisition of 2020 and 25th in the Puget Sound market.
Dennis Kaiser is Vice President of Content and Public Relations for
Connect Commercial Real Estate. Dennis is a communications
leader with more than 30 years of experience.
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