CBRE Arranges $23.8 Million Sale of Newly Constructed Industrial Constructing in Lacey, WA
CBRE introduced the $23.8 million sale of Lacey Logistics, a 141,884-sq.-ft. Class A industrial constructing in Lacey, Washington, to a confidential purchaser.
Brett Hartzell and Paige Morgan with CBRE Nationwide Companions within the Pacific Northwest represented the vendor, Panattoni Improvement Firm and GLP Capital Companions (GCP).
Accomplished in 2021, the cross-dock facility has 130-ft. truck courts, 30-ft. clear heights, dock-high and drive-in loading, trailer parking, ESFR sprinklers and heavy energy. It’s absolutely leased to 3 tenants: Morgan Switch, Direct Export and Blue Line Foodservice.
Lacey Logistics is positioned at 3130 Hogum Bay Rd NE in Thurston County, lower than 1.5 miles from Interstate 5, about 35 minutes south of the Port of Tacoma, and 55 minutes south of downtown Seattle.
“Regardless of the present market volatility, the Seattle space’s distinctive industrial fundamentals proceed to prevail. We’re delighted to have partnered with the groups at Panattoni and GCP on the sale of Lacey Logistics,” stated Mr. Hartzell, CBRE.
Tenant demand outpacing provide pushed industrial emptiness charges decrease within the Puget Sound area on the finish of the third quarter, based on CBRE analysis. Emptiness dipped to 4.2 p.c for the area and is even decrease within the Lacey submarket (simply 2.6 p.c). Industrial funding gross sales picked up within the quarter, totaling $912.7 million—practically double the second-quarter’s quantity of $469.2 million.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 firm headquartered in Dallas, is the world’s largest business actual property companies and funding agency (primarily based on 2021 income). The corporate has greater than 105,000 workers (excluding Turner & Townsend workers) serving purchasers in additional than 100 international locations. CBRE serves a various vary of purchasers with an built-in suite of companies, together with amenities, transaction and venture administration; property administration; funding administration; appraisal and valuation; property leasing; strategic consulting; property gross sales; mortgage companies and improvement companies. Please go to our web site at www.cbre.com.
