Kidder Mathews has helped move a cold-storage facility in south Seattle’s industrial market – a rare transfer of ownership for such a facility.
Fortress Investment, a global investment management company, has purchased a 31,182-square-foot cold storage building located at 2709 Airport Way South in Seattle, Washington. They were represented in the transaction by Kidder Mathews’ Senior Vice President Matt Murray. The seller was a private capital owner, according to a news release.
The property sits on 0.93 acres south of downtown Seattle. One of very few such cold-storage facilities in Puget Sound, the present tenant is MacDonald Meat, per the release.
“This is a trophy property in South Seattle with excellent visibility off Interstate-5. Given the lack of cold storage in the market, the location close to the downtown core, and its proximity to major highways, this acquisition will prove to be very strategic for Fortress,” said Kidder Mathews’ Murray.
Reportedly, only six such facilities have bought/sold in the past 26 months in the Puget Sound area.