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Pacific Northwest’s Largest Single Asset Sale Completed in Centralia

Pennsylvania-based Exeter Property Group acquired a newly-constructed 1.15-million-square-foot food grade industrial dry warehouse and cooler/freezer distribution facility located at 4002 Galvin Rd. in Centralia, WA. The sale represents the largest single asset sale in the Pacific Northwest in 2019.

The project, situated on 77 acres on the I-5 “logistics corridor” between Seattle and Portland, was recently completed by O’Keefe Development as a build-to-suit for UNFI on a new, 20-year lease term. UNFI is one of the largest food distributors in the country. The property features 606,795 square feet of dry warehouse/offices and 529,000 square feet of specialized, highly-efficient and computer-controlled cooler/freezer space. Additionally, there is a trucking maintenance and fueling facility.

NKF’s Kevin Shannon, Bret Hardy, Jim Linn, Tim O’Keefe and Brad Burton represented the seller, Centralia DC, LLC. The seller and O’Keefe Development are both owned by Tom T. O’Keefe

Hardy says, “The project allowed UNFI to consolidate multiple regional facilities and more cost-effectively distribute food throughout the region.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition