Valley Distribution Middle
LaSalle Funding Administration has acquired Valley Distribution Middle, a 473,000-square-foot industrial facility in Renton, Wash., for $120 million, in accordance with King County public data.
The vendor, Clarion Companions, was represented within the transaction by CBRE, in accordance with the Puget Sound Enterprise Journal.
In 2017, Clarion Companions bought the property for $67 million, CommercialEdge information exhibits.
Positioned at 300 S.W. twenty seventh St., Valley Distribution Middle is a one-story concrete cross-dock constructing geared up with ESFR sprinklers, local weather management methods, 386 parking spots and an extra two-level workplace build-out house, CommercialEdge information exhibits. The property’s tenants embody Graybar Northwest Service Middle, packaging and distribution firm Sealed Air and a Coca Cola bottler, the identical information supplier exhibits.
Located on a 22-acre lot, the economic asset is near Interstates 5 and 405, inside 3.8 miles from Seattle-Tacoma Worldwide Airport, 14 miles from downtown Seattle and 15 miles of downtown Bellevue. Wash. CBRE’s workforce led by Vice Chairman Brett Hartzell and Government Vice President Paige Morgan labored on behalf of Clarion Companions.
In September, LaSalle Funding Administration additionally bought a Class A life science asset in San Diego, totally occupied by Vertex. Final yr, the corporate bought one in every of its Seattle industrial property, a 315,392-square-foot industrial park for $72.6 million.
