Newmark has arranged a full-building lease at Prologis Park SeaTac 3, a 265,922-square-foot industrial facility in Des Moines, Washington, near Seattle. The transaction covers the entire building and is located within the Des Moines Creek industrial corridor, a cluster of logistics and industrial properties serving the broader regional market.
The Newmark team on the assignment included Executive Vice Chairman Thad Mallory, Vice Chairman Taylor Hoff and Managing Director Cam Warren. The brokers represented property owner Prologis in the lease transaction, acting on behalf of the landlord to secure a single tenant for the full facility.
The Prologis-owned property is part of the Prologis Park SeaTac industrial portfolio and sits at 21202 24th Avenue South in Des Moines. The site provides direct access to several key transportation routes, including Interstate 5, State Route 99 and Interstate 405, positioning the property to serve users that require connectivity across the region.
Newmark’s Mallory noted that the submarket has been a leading location for regional industrial leasing activity for more than a decade and continues to attract interest from large, brand-name users seeking modern, functional space and efficient access to the broader area. According to Mallory, this leasing performance has been consistent over time in the corridor.
With the new lease at Prologis Park SeaTac 3, Prologis has brought its holdings in the Des Moines Creek industrial corridor to 100 percent occupancy. The full-building commitment at SeaTac 3 reflects the ongoing leasing momentum in the area and solidifies occupancy across the company’s local industrial portfolio in that corridor.
Prologis Director of Leasing Lucca Merlino commented that the latest transaction at SeaTac 3 underscores the level of demand among businesses for high-quality, well-located industrial space in the market. Merlino added that the property has now reached full occupancy, supported by its combination of modern specifications and freeway access.
