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Zenith IOS Enters PNW Market with $21M Purchase in Pacific
Kidder Mathews’ Matt Murray has represented Zenith Industrial Outdoor Storage (IOS) in the reported $21 million purchase of 1000 Butte Ave. SE, an 11.6-acre storage yard in Pacific, WA. The seller in the transaction was Butte Ave Properties, LLC.
The industrial storage yard is comprised of six buildings, and Zenith bought the property as is, with the intention to lease it out as an investment. In a news release, Kidder said that part of the appeal for Zenith was the property’s proximity to the ports of Seattle and Tacoma, and its relativity to the core industrial market in Kent Valley.
“It was an honor to represent Zenith in their first transaction in the Pacific Northwest,” said Murray. “This transaction exemplifies the growing interest in industrial outdoor storage as well as the attractiveness of the Puget Sound market. Hats off to both buyer and seller in working together to get this deal across the finish line.”
- ◦Sale/Acquisition
