{"id":1004147704,"date":"2016-07-08T04:08:42","date_gmt":"2016-07-08T12:08:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004147704"},"modified":"2022-03-03T06:50:04","modified_gmt":"2022-03-03T14:50:04","slug":"bixby-land-adds-the-steele-building-to-seattle-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bixby-land-adds-the-steele-building-to-seattle-portfolio\/","title":{"rendered":"Bixby Land Adds The Steele Building to Seattle Portfolio"},"content":{"rendered":"<p>By Alex Girda<\/p>\n<p><strong>Seattle<\/strong>\u2014The Steele Building in Seattle\u2019s Kent Valley submarket is the latest asset added to <a href=\"https:\/\/bixbyland.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Bixby Land Co.<\/a>\u2019s portfolio. The Newport Beach, Calif.-based investor is in the midst of expanding its industrial holdings in accordance to its strategy of acquiring fully leased assets in primary markets along the West Coast. The transaction was worth $24 million, a per-square-foot rate of $116.<\/p>\n<div id=\"attachment_1004147711\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/The-Steele-Building.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004147711\" data-attachment-id=\"1004147711\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bixby-land-adds-the-steele-building-to-seattle-portfolio\/the-steele-building\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/The-Steele-Building.png\" data-orig-size=\"935,524\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The Steele Building\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Steele Building&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/The-Steele-Building.png?w=935\" loading=\"lazy\" class=\"wp-image-1004147711 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/The-Steele-Building.png\" alt=\"The Steele Building\" width=\"300\" height=\"168\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/The-Steele-Building.png 935w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/The-Steele-Building.png?resize=300,168 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/The-Steele-Building.png?resize=768,430 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004147711\" class=\"wp-caption-text\">The Steele Building<\/p><\/div>\n<p>Located at 1565 Fryer Ave. in Sumner, Wash., the facility offers 206,463 square feet of space. The warehouse and distribution building was completed earlier this year, and is in the process of receiving LEED Silver certification from the U.S. Green Building Council. The asset is operating at full occupancy, with tenants Domestic Corp. and Marine View Beverage taking up the entire space on long-term deals.<\/p>\n<p>Arranged by <a href=\"https:\/\/www.cbre.com\/\" rel=\"nofollow noopener\" target=\"_blank\">CBRE<\/a> representatives Brett Hartzell and Taylor Odegaard, the deal \u201cfurthers our investment activities in core industrial properties\u201d, Bixby Senior Vice President of Investments Mike Severson noted. This is Bixby\u2019s third industrial acquisition completed in the Seattle metro during the last six months. The company will continue to look for investment opportunities with institutional grade industrial investments in the $5 million &#8211; $50 million price range.<\/p>\n<p><em>Image courtesy of Bixby Land Co. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property is in the process of receiving LEED Silver certification.<\/p>\n","protected":false},"author":41,"featured_media":1004147711,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,21742,1610,15],"tags":[],"class_list":["post-1004147704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-latest","category-seattle","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bixby Land Adds The Steele Building to Seattle Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bixby-land-adds-the-steele-building-to-seattle-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bixby Land Adds The Steele Building to Seattle Portfolio\" \/>\n<meta property=\"og:description\" content=\"The property is in the process of receiving LEED Silver certification.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bixby-land-adds-the-steele-building-to-seattle-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-07-08T12:08:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-03T14:50:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/The-Steele-Building.png\" \/>\n\t<meta property=\"og:image:width\" content=\"935\" \/>\n\t<meta property=\"og:image:height\" content=\"524\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Alex Girda\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bixby-land-adds-the-steele-building-to-seattle-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bixby-land-adds-the-steele-building-to-seattle-portfolio\\\/\"},\"author\":{\"name\":\"Alex Girda\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/540f0253de89dedaae7684239611b81c\"},\"headline\":\"Bixby Land Adds The Steele Building to Seattle Portfolio\",\"datePublished\":\"2016-07-08T12:08:42+00:00\",\"dateModified\":\"2022-03-03T14:50:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bixby-land-adds-the-steele-building-to-seattle-portfolio\\\/\"},\"wordCount\":219,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bixby-land-adds-the-steele-building-to-seattle-portfolio\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/07\\\/The-Steele-Building.png\",\"articleSection\":[\"Deals\",\"Industrial\",\"Investment\",\"News\",\"Seattle\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bixby-land-adds-the-steele-building-to-seattle-portfolio\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bixby-land-adds-the-steele-building-to-seattle-portfolio\\\/\",\"name\":\"Bixby Land Adds The Steele Building to Seattle Portfolio - 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