Marcus & Millichap Arranges Lakewood Industrial Asset Sale
Real estate brokerage firm Marcus & Millichap has arranged the sale of a 19,000-square-foot industrial property in Lakewood, WA. The buyer, a locally-owned vehicle upfitter for law enforcement agencies, purchased the asset for $3.38 million and will occupy the property for their own use.
Marcus & Millichap’s Matthew Herman and Stren Lea from the firm’s Seattle office, had the exclusive listing to market the property on behalf of the seller, an undisclosed limited liability company.
Located at 2520 112th St. S, the property is situated at the North end of Joint Base Lewis McChord’s airfield, which created unique challenges to the sale. As a measure to limit risk to life and safety from aviation-related accidents, the City of Lakewood has established a “Clear Zone” that requires government and military approval for new uses. Herman and Lea worked throughout marketing and escrow to ensure a successful use application for the new owner and their business.
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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