Industrial investment activity remains intense in Washington, as Colliers has announced two purchases in the Spokane, WA region: a 306,000-square-foot building on Hallett Road in Cheney and a 111,000-square-foot facility on East Marietta Avenue in Spokane. The combination added $62 million to the area’s total sales volume for 2022.

The Hallett building, purchased by Bridge Investment Group, was fully leased at the time of sale and offers close proximity to the Spokane airport and major trucking routes. The Marietta property, purchased by TPG Real Estate, is fully leased to four tenants and is located in Spokane’s primary industrial district with easy access to Interstate 90.

“Limited supply and outsized demand are keeping the competition fierce in the industrial sector,” said Collier’s Bill Condon who oversaw the two sales with teammate Matt McGregor. “We expect to see traditionally secondary markets like Spokane attract even more attention from institutional investors as they work to secure footholds across the nation.”