LaSalle Purchases Renton Logistics Property for $120M
LPF Renton Logistics, an affiliate of Chicago-based Lasalle, has purchased the Renton Logistics Center, a 459,000-square-foot, Class A industrial facility in Renton, WA. CBRE represented the seller, Clarion Partners, in the $120 million transaction which works out to about $261 per square foot.
The highly-functional cross-dock facility is located at 2501 East Valley Road in the Kent Valley and features a 30’ clear height, 75 dock-high doors, trailer parking, heavy power, ESFR sprinklers and energy efficient lighting. It is fully leased to Graybar, Swire Coca-Cola and Sealed Air.
“We are pleased to see continued liquidity for prime real estate despite the challenging market conditions. Kent Valley is one of the best industrial submarkets in the country and continues to see persistent growth. We are very pleased to have partnered with the Clarion team on this sale,” said CBRE’s Brett Hartzell who arranged the transaction along with the firm’s Paige Morgan.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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