Seattle & Northwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Lakewood Business Campus Changes Hands for $33M
A private 1031 exchange buyer has purchased Lakewood Business Park, a 136,000-square-foot, multi-tenant industrial campus in Lakewood, WA. CBRE’s Brett Hartzell, Paige Morgan and Rebecca Perlmutter along with Neil Walter’s Nick Ratzke and John DeHan represented the seller, MCA Realty in the $32.9 million transaction.
Located at 10107 South Tacoma Way in the Seattle submarket of Lakewood, the six-building business park is situated less than eight miles from the Port of Tacoma and only two miles from the Lewis-McChord joint army and air force base.
MCA Realty implemented updates to the property including outside storage, new paint, new fencing, asphalt, curbing, lighting repairs and landscape, which helped boost the property value from the $18 million price tag when the firm purchased it in 2020. Lakewood Business Park was also at 100% occupancy at time of sale.
- ◦Sale/Acquisition
