Elion Claims Intracorp Building in Everett
Miami-based Elion Partners acquired the 113,000-square-foot Intracorp Building on Hardeson Road in Everett for $23.1 million. The addition represents the first in Elion’s planned expansion into the Greater Seattle industrial market and was announced as part of an $83-million deal involving four last-mile industrial distribution assets across the West Coast.
The Class A multi-tenant building in Everett is fully leased and strategically located in South Everett, the largest submarket in Seattle’s Northend and home to a rapidly growing logistics and internet retail presence.
Elion Partners’ James Lambert says, “Accelerated e-commerce adaptation combined with the need for supply chain resiliency and diversification have been the primary demand drivers for the asset class. As retailers and manufacturers increase their level of safety inventory and look to diversify their supply chains, strategically located distribution centers will be vital to their success.”
Lee & Associates handled the Puget Sound deal.
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