Rendering of Bridge Level Kent 180. Picture courtesy of Bridge Industrial
Bridge Industrial has bought a 13-acre website from a non-public vendor in Kent, Wash. The parcel modified palms for $8.5 million, based on King County public data. The customer plans to develop a 180,000-square-foot Class A industrial constructing, which might mark its third warehouse within the Kent Valley space.
Building on Bridge Level Kent 180 is predicted to begin within the first quarter of 2024, with completion scheduled for early 2025.
At full buildout, Bridge Level Kent 180 is about to incorporate 36-foot clear heights, three grade stage doorways, 27 dock excessive doorways, 12 trailer parking spots and 219 car parking spots. The event website housed an aluminum smelting plant for greater than 4 many years. Bridge Industrial plans to demolish the prevailing construction, whereas additionally conducting an intensive environmental remediation program and cleanup.
Situated at 7730 S. 202nd St., the upcoming facility might be near U.S. Freeway 167 and Interstate 5, some 9 miles from Seattle-Tacoma Worldwide Airport, 15 miles from downtown Bellevue, Wash., and inside 17 miles of downtown Seattle.
Newmark Senior Managing Director Taylor Hoff and Vice Chairman Thad Mallory represented the vendor and might be offering leasing companies for the upcoming property.
Concentrate on Kent Valley
Bridge Level Kent 180 will comply with Bridge Level Kent 300 and Bridge Level Kent 100 within the newest sequence of Bridge acquisitions and developments within the Seattle space.
Justin Carlucci, companion for the Northwest Area at Bridge, famous in ready remarks that industrial amenities with greater than 150,000 sq. toes of warehouse house are in excessive demand.
In line with the most recent CommercialEdge industrial report, western markets recorded sturdy fundamentals as of Could. The emptiness fee in Seattle was 4 %, with 6.4 million sq. toes underneath building. One of many developments that’s anticipated to be delivered later this yr is Panattoni Growth Co.’s speculative Covington 18 undertaking, which is about to carry 243,000 sq. toes to the market. In Frederickson, Wash., Panattoni and Crow Holdings are engaged on FRED310, a 4 million-square-foot industrial growth that already secured a 1.1 million-square-foot prelease.
