Lee & Associates represented Pacific West 5, LLC in its acquisition of the Pacific Business Park located at 136 Stewart Rd. SE in Pacific, WA for $8,200,000 as part of a 1031 exchange. Currently 100% occupied by 22 tenants, Troy Gessel – principal at Lee & Associates | Pacific Northwest – facilitated the transaction and syndicated ownership fund which purchased the property.
Gessel noted that this investment opportunity meets a niche demand in an otherwise relatively stable industrial market: “This property is a perfect example of what our private investors are looking for today – high demand exists for smaller incubator-styled automotive properties with high occupancy rates and consistent returns.” He added that these types of properties are few and far between but they will continue to be on the lookout for similar investment opportunities.
