Colliers Facilitates $35M Sale of Tukwila Industrial Building
Professional services and investment management firm Colliers has announced the $35 million sale of the Rainier Industries Building in Tukwila, WA. The property is 100% leased to Rainier Industries, a display, shade and shelter manufacturer that has been in Washington for 125 years, and will remain with the new owner.
The Colliers team of Matt McGregor and Bill Condon represented both parties in the deal. “This was a winning transaction for both our clients,” said McGregor in a news release. “Opportunities to acquire this caliber of asset in this submarket and retain a stable, long-term tenant are incredibly rare.”
Located at 18375 Olympic Ave. S., the building sits on seven acres of land and offers easy access to Interstate 5 and State Routes 181 and 187. It also has good proximity to both the Port of Seattle and the Port of Tacoma.