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Port Proximity, Population and Barriers Set Seattle Industrial Apart
Duke Realty identified the Seattle market as a strategic growth market due to its proximity to ports, population growth and land constraints. With those criteria in mind, the Seattle office of Duke Realty acquired a three-building 1.6 million-square-foot portfolio, a 63,546-square-foot distribution center and a 12.2-acre site where the company plans to develop a 268,499-square-foot facility.
Duke Realty acquired The Cubes at DuPont from a partnership between CRG and U.S. Logistics Fund I. Once the planned development project is complete, Duke Realty’s Seattle portfolio will total approximately 4 million square feet.
“Low vacancy rates and high demand continue to drive Duke Realty’s purchases and development plans,” said Mark Hosfeld, vice president and Seattle market leader with Duke Realty.
The projects are located in DuPont and Kent with access to I-5, just miles from Seattle-Tacoma International Airport, and the ports of Seattle and Tacoma.
The Cubes at DuPont currently has approximately 494,900 square feet of space available for immediate occupancy. The 7409 South 202nd St. Kent site is currently in development plan approval. Its construction is expected to begin in mid-2021 with estimated delivery of the planned LEED facility in summer 2022.
For comments, questions or concerns, please contact Lisa Brown
- ◦Development
- ◦Sale/Acquisition
