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Industrial Campus in Bonney Lake Sells for $41M

Cascade RCL, LLC has sold The Cascade Building, a 10.33-acre industrial park located in the Eastown Jobs Center with 184,000 square feet of building space, for $41 million.

The buyer, Walter E. Nelson Co., is a Portland-based supplier and manufacturer of facility cleaning supplies. Kidder Mathews Executive Vice President Matt McLennan, SIOR, CCIM, and Executive Vice President Kraig Heeter, SIOR, represented Cascade.

The building is at 9713 233rd Avenue East in Bonney Lake, and it is a unique Class A industrial tilt-up building featuring modern amenities in a campus-like setting. It represents the most significant dollar value of a property sale in Bonney Lake and in Pierce County in the last year. 

Peak Design, a Bonney Lake warehouse tenant-turned-developer, built The Cascade Building, and the team is currently focused on another project, Peak 410, which features up to seven buildings and nearly one million square feet of additional industrial space.

“It is rare to see an owner/user sale of a building this size, let alone a transaction this size in the current market.”

Kidder Mathews Executive Vice President Matt McLennan, SIOR, CCIM

Connect Industrial Midwest 2024 will take place on March 5, 2024, at Joe’s Live in Rosemont, Illinois. Click here for more information and to register.


Inside The Story

Kidder Mathews

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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