Bridge Point Lakewood 90 Benefits from Industrial Uptick
Previously a vacant gravel lot, Bridge Point Lakewood 90 will be an industrial warehouse and distribution facility. Bridge Development Partners LLC recently acquired the 4.23-acre property in Lakewood through a joint venture partnership with PCCP LLC.
BRIDGE plans to break ground on the 92,445-square-foot building in May of this year, with delivery expected in first quarter 2022.
The property sits within the South Tacoma submarket, an hour drive from seven of Washington’s 10 most populated cities, and has immediate access to I-5 via a four-way interchange.
“The Lakewood area is now an up-and-coming industrial hotspot, having seen a massive uptick of development to meet the demand for e-commerce distribution centers and logistics facilities. The South Tacoma submarket specifically is ideal for major e-commerce players, blue chip companies and other tenant types alike,” said Justin Carlucci, partner for BRIDGE’s Northwest Region.
Bill Condon and Matt McGregor of Colliers International represented the seller in the transaction and will serve as the leasing brokers for the project.