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Seattle & Northwest  + Seattle  + Industrial  | 

DWS Group’s RREEF Lands Redmond Distribution Facility for $82M

DWS Group’s RREEF Property Trust, Inc. acquired a 210,321-square-foot distribution center in Redmond, WA from Franklin-Redmond LLC for $81.50 million. The property at 18795 NE 73rd St. is fully leased to a multinational delivery services company through July 2028, and serves as a last-mile distribution center to the surrounding residential population and local corporations in Seattle’s Eastside submarket.

“Acquiring a well-located distribution facility in one of the busiest shipment corridors along the West Coast is aligned with our portfolio allocation strategy for the fund,” said Todd Henderson, Chairman of the Board of RREEF Property Trust and Head of Real Estate, Americas at DWS.

The LEED Silver-certified distribution facility houses a custom, built-in-place conveyor system, tasked with sorting and organizing packages for shipment in an efficient and cost-effective manner. The property’s close proximity to Seattle’s major population centers, SeaTac Airport and the Port of Seattle, makes this location highly desirable among large distribution tenants, while high barriers to entry have limited development in this industrial node.

CBRE handled the transaction.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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