MCA Realty Enters Puget Sound Metro with First Acquisition
MCA Realty acquired Lakewood Business Park, a 136,350-square-foot multi-tenant industrial asset in Lakewood for $18.2 million. The deal marks the Orange County, CA-based buyers’ first acquisition in Washington. The seller was undisclosed.
MCA Realty’s Tyler Mattox says, “We have been active in multiple areas throughout the Western region over the last several years, including California, Arizona and Nevada. With this acquisition, we are now expanding our portfolio into Washington state and plan to continue to expand our presence in the Pacific Northwest.”
The property at 10107 S. Tacoma Way consists of six buildings with 36 units, and an adjacent acre of undeveloped and under-utilized land. Prior to purchase, the property was about 80% leased, though during escrow MCA increased occupancy to roughly 95%.
Lakewood Business Center is located near the Port of Tacoma, as well as the Lewis-McChord active joint army and air force base.
CBRE’s Rebecca Perlmutter Finkel, Monte Decker and Eric Cox assisted in the transaction.
For comments, questions or concerns, please contact Dennis Kaiser