CBRE recently announced the successful sale of a 315,422-square-foot industrial portfolio in Seattle. Led by CBRE National Partners West’s Brett Hartzell and Paige Morgan, along with Andrew Stark and Andrew Hitchcock, the team represented the seller.
The portfolio consists of two industrial facilities: Kent Valley DC II and Kent Valley DC IV. According to Hartzell, these properties are highly desirable due to their prime location in the infill Kent Valley submarket. He also noted that since 2021, there have only been four similar trades in this area.
Kent Valley is an important distribution hub for the Pacific Northwest region. The two buildings were built between 1995-1997 and boast impressive features such as 30′ clear heights and a high number of dock doors. CBRE Research reports that rents in this submarket have increased by an astounding 127% since 2015 with a further growth of13% recorded just last year – solidifying its position as one of the most sought-after areas in this region.
In summary,CBRE has successfully facilitated a $64 million sale for an irreplaceable Seattle industrial portfolio consistingof two top-quality distribution buildings located withinthe thriving KentValley submarket -a vital hub for distributioninthe Pacific Northwestregion.
