Last week, Chicago-based Bridge Industrial cleared key regulatory hurdles for a four-building project in Tacoma. The city granted conditional approval of a critical areas development permit and issued a “mitigated determination of non-significance” to the firm. This enabled Bridge to move forward with its 2.5 million square foot industrial campus called Bridge Point Tacoma 2MM on former BNSF Railway Co property in Nalley Valley.
The buildings will range from 320,000 to nearly one million square feet and Kidder Mathews is marketing them for lease purposes. In September 2021, the company purchased the 150 acre site for $158 million before submitting pre-development documents to the city authorities.
This speculative project adds significant industrial space into South Sound market at an opportune time when rising interest rates and inflation are causing some weakness in this sector overall .
