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BentallGreenOak Buys 753,000-SF Frederickson Industrial Facility
BentallGreenOak has acquired an industrial building for $176 million. The 753,000-square-foot building is located in the FRED310 development in Frederickson that was jointly developed by the sellers, Panattoni and Crow Holdings.
The property, Building D, is located at 6921 192nd St. E, reported the Puget Sound Business Journal. The Cushman & Wakefield team of Jeff Chiate, Bryce Aberg, Jeffrey Cole, Charlie Jacobs and Matthew Leupold represented Panattoni in the sale.
The two tenants are Haier and General Electric, which is leasing 436,000 square feet, and Kowa, a Japanese research, development and manufacturing firm, which has the remaining 317,000 square feet. Harbor Freight is leasing a 783,000-square-foot building E, and Floor & Decor is in a 1.1 million-square-foot building.
Panattoni recently announced it had executed a long-term ground lease with the Port of Seattle for an industrial development at Des Moines Creek Business Park West. The site will be transformed into a 405,680-square-foot, state-of-the-art logistics and manufacturing facility.
