**Steel Peak Acquires $5.75M IOS Property in Seattle**
Steel Peak has acquired an industrial outdoor storage (IOS) property located at 515 South 96th Street in Seattle, Washington, for $5.75 million. This purchase marks the company’s 10th IOS property acquisition on the West Coast since its founding in January 2024.
Evan Lugar and Thad Mallory, SIOR, of Newmark represented both Steel Peak and the seller, a private owner. Spencer Mikles, Director of Acquisitions at Steel Peak, also played a key role in securing the transaction.
“This marks our third IOS property acquisition this year in the Seattle market, a key West Coast market for our growth,” said Blake Rodgers, Principal at Steel Peak. “We’re committed to being long-term investors in Seattle and the surrounding submarkets, as well as other primary industrial markets across the Western United States.”
The 2.42-acre property, located in Seattle’s South submarket, offers direct access to I-5, SR-99, Highway 509, and the Seattle-Tacoma International Airport. The site includes a 3,600-square-foot maintenance shop equipped with three grade-level doors, making it ideal for industrial uses.
This acquisition underscores Steel Peak’s continued expansion and investment focus in strategic logistics and storage markets across the western U.S.
