**Steel Peak Acquires Ninth West Coast IOS Property in Pacific, Washington**
Steel Peak has announced the acquisition of an industrial outdoor storage (IOS) property located at 1503 Thornton Avenue SW in Pacific, Washington, for $6.2 million. This marks the company’s second investment in the Seattle area this year.
Founded in January 2024, Steel Peak has quickly expanded its presence, now owning nine properties across Washington, California, and Utah. Co-Founder Pasha Johnson emphasized the firm’s long-term vision, stating, “With additional properties in our pipeline, we’re committed to establishing a long-term foothold in the Kent Valley and surrounding submarkets.”
Thad Mallory, SIOR, and Cam Warren of Newmark represented both Steel Peak and the seller, a private owner, in the transaction.
The 2.40-acre site sits in a prime location with immediate access to Highway 167 and the Ports of Seattle and Tacoma. It features a 3,000-square-foot maintenance shop and 800 square feet of office space, along with over two acres of graveled and partially paved yard area. The property is zoned for a variety of uses including contractor yards, equipment rental facilities, vehicle maintenance, and building materials storage.
