Bridge Logistics Properties Acquires 783 KSF Facility Near Tacoma

Bridge Logistics Properties has acquired 6920 192nd St., a 782,775-square-foot distribution facility in Frederickson, Wash. The acquisition is BLP’s largest in the Seattle market to date.

The property was developed and sold by Panattoni Development, which delivered it in 2024 as Building E of the larger Fred310 industrial development. The sale price was not disclosed.

The building is fully leased on a long-term basis to Harbor Freight Tools, which uses it as a regional distribution center supporting the company’s network of more than 1,600 stores nationwide.

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The facility’s offers specifications include:

•  40-foot clear height

•  cross-dock configuration with 152 dock-high doors and four grade-level doors

•  full concrete oversized truck courts

•  476 trailer stalls and 262 auto parking spaces

•  4,000 amps of power with expansion capability

•  ESFR sprinklers

•  separate truck and auto entrances

The 53.3-acre site is about 17 miles from the Port of Tacoma, Puget Sound’s largest container port.

In a news release, BLP stated that supply in the Frederickson–Kent Valley market has contracted sharply, with the construction pipeline down more than 60 percent year-over-year, positioning well-located, large-format Class A assets to benefit as demand strengthens.

Cushman Wakefield Executive Vice Chairman Jeff Chiate and Vice Chairman Bryce Aberg brokered the deal.

Lots of deliveries, high vacancy in Pierce County

Panattoni Development and Crow Holdings Capital sold another asset in Fred310, Building D, last July to an undisclosed buyer. Originally speculative, the 753,069-square-foot building was fully occupied by General Electric Appliances and Kowa, a Japanese research, development and manufacturing firm.

The industrial market in Pierce County is the region’s most active in terms of development, with six buildings totaling 1.8 million square feet having delivered so far in 2026, according to a second-quarter report from Kidder Mathews.

Absorption, however, was a negative 302,000 square feet, pushing vacancy to 12.7 percent, Puget Sound’s highest. In contrast, Pierce County’s industrial vacancy was just 2.9 percent at the end of 2022.