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Bixby Land Cuts Another Seattle Deal with Panattoni
Newport Beach, CA-based Bixby Land Company acquired a 55,660-square-foot industrial building in Sumner, WA, in the Kent Valley industrial submarket, 35 miles south of Seattle. The property, at 1800 Fryar Ave., was sold by Panattoni Development for $18.75 million.
Built in 2017, the building is leased to Cummins, Inc., a Fortune 500 company that designs, manufactures and distributes engines and power generation products. The property is the fourth building Bixby Land has purchased from Panattoni in the greater Seattle area since 2016. Bixby Land was self-represented. CBRE’s Brett Hartzell represented the seller.
The acquisition represents a strategic investment initiative by Bixby Land to acquire $400 million in leased warehouse and distribution buildings in the Western U.S. over the next several years. Bixby Land announced a new industrial investment venture with Europe’s AXA Investment Managers, Real Assets last month.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

