Pennsylvania-based logistics company Allen Distribution has broken into the Pacific Northwest market, signing a 293,000-square-foot lease at SeaPORT Logistics Center in Sumner, WA. The firm will occupy the recently completed building 5 which includes 6,000 square feet of office space and 178 parking stalls.
The Puget Sound Business Journal reports that Lee & Associates’ Billy Moultrie and Kimberly Jacobsen represented Allen in the lease transaction while CBRE’s John Gilliland and John Sullivan represented Tarragon as landlord.
SeaPORT Logistics Center is comprised of six buildings totaling 2 million square feet with tenants such as Nordstrom, Helly Hansen Smart Warehousing ID Logistics Truman Truck Lines Northwest Door and Northwest Accessory occupying space there.
A recent report from Colliers indicates that demand for industrial real estate remains strong in Puget Sound region with asking rents increasing 26.7% over last year despite vacancy rate rising slightly to 3.7%.
Image courtesy of Tarragon
