Seattle & Northwest + Seattle + Industrial | April 24, 2023

Bridge Industrial Clears Regulatory Hurdles for Tacoma Project

Chicago-based Bridge Industrial cleared key regulatory hurdles last week for a four-building project in Tacoma with the city’s conditional approval of a critical areas development permit and issuance of a “mitigated determination of non-significance,” reported the Puget Sound Business Journal.

Bridge plans to develop a 2.5-million-square-foot industrial campus called Bridge Point Tacoma 2MM on former BNSF Railway Co. property in Nalley Valley.

The buildings will range in size from 320,000 to nearly one million square feet. Kidder Mathews is marketing the Bridge development for lease.

Bridge, which has an office in Bellevue, bought the 150-acre site for $158 million in September 2021 and submitted pre-development documents to the city.

The Business Journal reported the speculative project would add a significant amount of industrial space to the South Sound market, although it was planned long before the market started showing signs of weakness due to rising interest rates and inflation.

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Bridge Point Tacoma 2MM

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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