Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

Seattle & Northwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Seattle & Northwest  + Seattle  + Industrial  |  November 21, 2025
Jasmine Kilman
By: Jasmine Kilman

Morgan Stanley Affiliate Buys Seattle Industrial Property

A fully leased industrial property in Seattle’s Magnolia neighborhood has traded for $36.5 million.

Portland-based ScanlanKemperBard (SKB), a real estate investor, operator and developer, is the seller of the 63,318-square-foot building at 2501 W. Commodore Way. The buyer is an entity affiliated with global investment firm Morgan Stanley, reported the Puget Sound Business Journal.

SKB acquired the site, located near the Ballard Locks, in 2020 as part of a package that included an adjacent 3-acre parcel. The sales price for the entire 6-acre portfolio was $24 million at the time. SKB also has industrial assets in the Phoenix market. The assessed value is $23.4 million, or 36% below the sales price. A $15.8 million tenant improvement project was completed at the site in 2024 for a 17,864-square-foot space for King County Waste. Venture Construction was the general contractor.

Connect

Inside The Story

SKBMorgan Stanley

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
Order Reprints