
CenterPoint Properties Claims Auburn & Tukwila Facilities
Oak Brook, IL-based CenterPoint expanded its Puget Sound portfolio with the addition of a pair of industrial facilities for roughly $28.6 million. The acquisitions include 1701 Pike St. in Auburn (pictured) and 365-369 Upland Dr. in Tukwila.
The 126,000-square-foot Pike Street site is situated on 7.04 acres near Seattle-Tacoma International Airport and the Port of Tacoma. The low-coverage, modern cross-dock asset is a rare sub-150,000-square-foot facility in the Kent Valley area.
CenterPoint’s Greg Pearson says, “This ‘workhorse’ is built for speed. As soon as the CenterPoint construction team completes the repositioning, this transload will be the belle of the ball.”
KBC Advisors’ Tony Miltenberger and Matt Wood, along with Kidder Mathews’ Matt Murray brokered the transaction and will market the property for lease.
CenterPoint also acquired a 57,100-square-foot distribution center at 365 Upland Dr. in Tukwila in an off-market, sale-leaseback with Spider. Kidder Mathews’ Chris Corr handled the sale for Edmonds-based Triple H Development LLC.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition