Steel Peak Acquires Industrial Outdoor Storage Property in Kent, WA for $5.65M
Steel Peak, a commercial real estate investment firm specializing in industrial outdoor storage (IOS) properties, has announced its acquisition of an IOS property located at 25924 78th Avenue South in Kent, Washington. The purchase price for the property was $5.65 million.
This acquisition marks Steel Peak’s first IOS investment outside of California. The company plans to complete property improvements in preparation for the arrival of its new tenant.
The property features a functional industrial building with shop and office space, along with significant outdoor storage capacity. Located just minutes from the I-5 and I-405 freeways, the site provides strategic access to the greater Seattle metropolitan area.
Nick Ratzke and Jim Honan of Neil Walter Company represented the seller, Fields Roof Service, in the transaction. Steel Peak represented itself.
“IOS properties with functional buildings and yard space in major metros like Seattle are in high demand — but available supply remains limited,” said Pasha Johnson, Co-Founder of Steel Peak. “Signing a long-term lease with Colorado Barricade prior to closing highlights the continued need for well-located IOS properties in the Seattle area.”
