Allen Distribution Leases 293K-SF in Sumner
Pennsylvania-based logistics company Allen Distribution has broken into the Pacific Northwest market, signing a 293,000-square-foot lease at SeaPORT Logistics Center in Sumner, WA. The firm will occupy the recently completed building 5, which includes 6,000 square feet of office space and 178 parking stalls.
The Puget Sound Business Journal reports that Lee & Associates Billy Moultrie and Kimberly Jacobsen represented Allen in the lease transaction while CBRE’s John Gilliland and John Sullivan represented the landlord, Tarragon.
The 130-acre SeaPORT Logistics Center is comprised of six buildings, totaling 2 million square feet. Other tenants at the complex include Nordstrom, Helly Hansen, Smart Warehousing, ID Logistics, Truman Truck Lines, Northwest Door and Northwest Accessory.
A recent report from Colliers indicates that the Puget Sound region continues to draw heavy industrial demand. Asking rents have increased 26.7% in the last year and vacancy, while increasing slightly, remains a paltry 3.7%.
Image courtesy of Tarragon