**Pine Forest Properties Acquires Amazon-Leased Warehouse in Everett for $51M**
An entity affiliated with Pine Forest Properties, a commercial real estate investment firm, has acquired an Amazon-leased industrial property located at 607 Riverside Road in Everett, Washington, for $51 million.
Based in Bellevue, Pine Forest Properties is known for its development, acquisition, and management of office, industrial, and multifamily properties across the Pacific Northwest. The firm purchased the property from global investment company KKR.
KKR had originally acquired the site in 2020 for $45.1 million. The building currently functions as a fulfillment center for Amazon, and the retailer’s lease will remain unaffected by the transaction, according to the Puget Sound Business Journal.
The facility was developed in 2019 by Panattoni Development as part of the Riverside Business Park and was leased to Amazon soon after its completion. CBRE’s Brett Hartzell represented KKR in the sale.
