{"id":1004210202,"date":"2018-03-14T09:09:19","date_gmt":"2018-03-14T17:09:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004210202"},"modified":"2022-12-07T19:48:35","modified_gmt":"2022-12-08T03:48:35","slug":"bixby-continues-western-industrial-expansion-in-seattle","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bixby-continues-western-industrial-expansion-in-seattle\/","title":{"rendered":"Bixby Continues Western Industrial Expansion in Seattle"},"content":{"rendered":"<p>By Beata Lorincz<\/p>\n<div id=\"attachment_1004210206\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/sss.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004210206\" data-attachment-id=\"1004210206\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bixby-continues-western-industrial-expansion-in-seattle\/sss-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/sss-e1521030512834.jpg\" data-orig-size=\"623,469\" data-comments-opened=\"0\" 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=\"1800 Fryar Ave. in Sumner, Wash.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1800 Fryar Ave. in Sumner, Wash.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/sss-e1521030512834.jpg?w=623\" class=\"wp-image-1004210206 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/sss-e1521030512834.jpg\" alt=\"1800 Fryar Ave. in Sumner, Wash.\" width=\"300\" height=\"226\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/sss-e1521030512834.jpg 623w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/sss-e1521030512834.jpg?resize=300,226 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004210206\" class=\"wp-caption-text\">1800 Fryar Ave. in Sumner, Wash.<\/p><\/div>\n<p>In an $18.8 million deal, Bixby Land Co. has purchased a 55,660-square-foot industrial facility in Sumner, Wash., from Panattoni Development. The transaction marks the duo\u2019s fourth industrial transaction in the Seattle area since 2016.<\/p>\n<p>The property is located at 1800 Fryar Ave., within a 40-minute drive south of downtown Seattle, in the Kent Valley submarket. The site is situated adjacent to Route 167 and in close proximity to routes 410 and 512. Constructed in 2004, the building\u00a0is currently leased to Cummins Inc., a Fortune 500 company which designs, manufactures and distributes engines and power generation. <\/p>\n<p>Brett Hartzell, executive vice president at CBRE, worked on behalf of the seller, while Bixby represented itself. The buyer is actively targeting the further acquisition of leased <a href=\"https:\/\/www.commercialsearch.com\/news\/bixby-axa-ramp-up-industrial-acquisitions-in-new-venture\/\">industrial assets in the Western U.S.<\/a>, within a roughly $400 million budget.<\/p>\n<p><em>\u201cWe are pleased to add this project to our growing portfolio of industrial assets in the Pacific Northwest,\u201d<\/em> said Mike Severson, executive vice president &amp; chief acquisitions officer at Bixby, in prepared remarks.<em> \u201cThis purchase furthers our investment activities in core industrial properties in primary West Coast markets, Arizona and Nevada.\u201d<\/em><\/p>\n<p><em>Image courtesy of\u00a0Bixby Land Co.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 55,660-square-foot asset dating back to 2004 is located south of downtown Seattle, with Cummins Inc. as its sole tenant.<\/p>\n","protected":false},"author":739,"featured_media":1004508700,"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":[33158,32789,33837],"class_list":["post-1004210202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-latest","category-seattle","category-west","tag-bixby-land-company","tag-cbre","tag-panattoni-development-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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