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Lee & Associates Closes Deal for Multi-Tenant Niche Industrial
Lee & Associates represented Pacific West 5, LLC, in its acquisition of the Pacific Business Park. Located at 136 Stewart Rd. SE in Pacific, WA, the property closed for $8,200,000 as part of a 1031 exchange. Currently it’s leased to 22 tenants and is 100% occupied.
Troy Gessel, principal at Lee & Associates | Pacific Northwest, facilitated the transaction and syndicated the ownership fund which purchased the property. Gessel said he sees this investment opportunity as a way to meet a niche demand in a relatively stable industrial market.
“This property is a perfect example of what our private investors are looking for in today’s market,” Gessel said. “There is high demand for smaller, incubator-styled, automotive-oriented properties that will sustain high occupancy and generate consistent returns for the investors. These properties are few and far between, but we will continue to be on the lookout for similar investment opportunities.”
- ◦Sale/Acquisition
