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Seattle & Northwest  + Washington  + Industrial  |  October 25, 2024
Jasmine Kilman
By: Jasmine Kilman

CBRE Arranges $50M Sale of PNW Industrial Portfolio

CBRE has arranged the sale of a three-building industrial portfolio totaling 312,604 square feet in Seattle, Washington, and Portland, Oregon, to EQT Exeter for $49.9 million.

The portfolio consists of Northwest Corporate Park Building 11, a 207,082-square-foot distribution building, and Kent 36 & 39, a 63,500-square-foot distribution building and a 42,022-square-foot small bay industrial building.

Brett Hartzell and Paige Morgan of CBRE National Partners West, assisted by local market experts Andrew Stark, Stuart Skaug and Cara Nolan, represented the seller, an institutional investor.

The assets are located in the Kent Valley and Northwest submarkets of Seattle & Portland, with proximity to major freeways. “This was a great opportunity for CBRE to leverage our expertise in Seattle and Portland on behalf of the seller,” said CBRE’s Morgan. “Exeter was motivated to control these differentiated infill buildings in two key west coast markets.”

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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