{"id":1004556422,"date":"2021-11-02T03:15:46","date_gmt":"2021-11-02T11:15:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004556422"},"modified":"2022-12-08T23:55:50","modified_gmt":"2022-12-09T07:55:50","slug":"dermody-properties-pays-62m-for-seattle-cold-storage","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/","title":{"rendered":"Dermody Properties Pays $62M for Seattle Cold Storage"},"content":{"rendered":"
\"\"<\/a>

8220 S. 212th St.<\/p><\/div>\n

Dermody Properties has acquired a 446,850-square-foot cold storage facility in Kent, Wash., for $62 million, according to King County records. Olympic Steamship Co. sold the Class B property.<\/p>\n

Located at 8220 S. 212th St., the property had been under the same ownership dating back to 1983, when the asset changed hands for $6.4 million, CommercialEdge data shows.<\/p>\n

The industrial building was completed in 1970 and includes refrigerated storage, a mezzanine storage level and a two-level office component. Located on more than 14 acres the property features a truck court between 100 and 130 feet, 24-foot clear heights, 45 dock-high doors outfitted with levelers, 12 rail doors and a ramped door. The structure is connected to rail service operated by BNSF.<\/p>\n

The industrial space is less than 1 mile from State Route 167 and within 4 miles of Interstate 5. Downtown Seattle is 18 miles northwest.<\/p>\n

As of September, U.S. average rents for industrial space reached $6.35 per square foot. Rents across metro Seattle surpassed the national average, with rents averaging $9 per square foot<\/a>, representing a 4.6 percent increase year-over-year, according to CommercialEdge data. New leases commanded a large premium: Those signed during the year ending in September averaged $11.23 per square foot, only exceeded by Orange County, the Bay Area and Los Angeles.<\/p>\n

Dermody’s earlier deals<\/h2>\n

In June, Dermody closed its third industrial fund by raising $1.1 billion<\/a> from investors. Dermody Properties Industrial Fund III L.P. surpassed its investment target and will focus on Class A logistic facilities nationwide.<\/p>\n

In September, Dermody secured a new tenant for a 258,737-square-foot lease in Rialto<\/a>, Calif. DGC Fulfillment inked the five-year, full-building lease to commence in December.<\/p>\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The seller purchased the facility in the early 1980s.<\/p>\n","protected":false},"author":1763,"featured_media":1004556423,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,15],"tags":[36664],"class_list":["post-1004556422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-west","tag-dermody-properties"],"acf":[],"yoast_head":"\nDermody Properties Pays $62M for Seattle Cold Storage - 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\/dermody-properties-pays-62m-for-seattle-cold-storage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dermody Properties Pays $62M for Seattle Cold Storage\" \/>\n<meta property=\"og:description\" content=\"The seller purchased the facility in the early 1980s.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/\" \/>\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=\"2021-11-02T11:15:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:55:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/8220-S.-212th-St.-e1635849574209.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"795\" \/>\n\t<meta property=\"og:image:height\" content=\"595\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Agota Felhazi\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/\",\"name\":\"Dermody Properties Pays $62M for Seattle Cold Storage - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/8220-S.-212th-St.-e1635849574209.jpg\",\"datePublished\":\"2021-11-02T11:15:46+00:00\",\"dateModified\":\"2022-12-09T07:55:50+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/bd1ef74130b86a7c6013eaa04b08b28d\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/8220-S.-212th-St.-e1635849574209.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/8220-S.-212th-St.-e1635849574209.jpg\",\"width\":795,\"height\":595,\"caption\":\"8220 S. 212th St.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Dermody Properties Pays $62M for Seattle Cold Storage\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/bd1ef74130b86a7c6013eaa04b08b28d\",\"name\":\"Agota Felhazi\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Agota-Felhazi.jpg?w=72\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Agota-Felhazi.jpg?w=72\",\"caption\":\"Agota Felhazi\"},\"description\":\"Agota Felhazi is a Senior Associate Editor at Multi-Housing News and Commercial Property Executive. Since joining the team in 2021, she has become the go-to person for the yearly rankings of the sister brands. Agota also writes metro reports on multifamily, data-driven listicles focused on self storage, and sometimes interviews as well as feature articles. You can reach out to Agota at Agota.Felhazi@cpe-mhn.com.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/agota-felhazi\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Dermody Properties Pays $62M for Seattle Cold Storage - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/","og_locale":"en_US","og_type":"article","og_title":"Dermody Properties Pays $62M for Seattle Cold Storage","og_description":"The seller purchased the facility in the early 1980s.","og_url":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2021-11-02T11:15:46+00:00","article_modified_time":"2022-12-09T07:55:50+00:00","og_image":[{"width":795,"height":595,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/8220-S.-212th-St.-e1635849574209.jpg","type":"image\/jpeg"}],"author":"Agota Felhazi","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/","url":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/","name":"Dermody Properties Pays $62M for Seattle Cold Storage - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/8220-S.-212th-St.-e1635849574209.jpg","datePublished":"2021-11-02T11:15:46+00:00","dateModified":"2022-12-09T07:55:50+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/bd1ef74130b86a7c6013eaa04b08b28d"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/8220-S.-212th-St.-e1635849574209.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/8220-S.-212th-St.-e1635849574209.jpg","width":795,"height":595,"caption":"8220 S. 212th St."},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-pays-62m-for-seattle-cold-storage\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Dermody Properties Pays $62M for Seattle Cold Storage"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/bd1ef74130b86a7c6013eaa04b08b28d","name":"Agota Felhazi","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Agota-Felhazi.jpg?w=72","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Agota-Felhazi.jpg?w=72","caption":"Agota Felhazi"},"description":"Agota Felhazi is a Senior Associate Editor at Multi-Housing News and Commercial Property Executive. Since joining the team in 2021, she has become the go-to person for the yearly rankings of the sister brands. Agota also writes metro reports on multifamily, data-driven listicles focused on self storage, and sometimes interviews as well as feature articles. You can reach out to Agota at Agota.Felhazi@cpe-mhn.com.","url":"https:\/\/www.commercialsearch.com\/news\/author\/agota-felhazi\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/8220-S.-212th-St.-e1635849574209.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004556422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1763"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004556422"}],"version-history":[{"count":3,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004556422\/revisions"}],"predecessor-version":[{"id":1004556441,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004556422\/revisions\/1004556441"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004556423"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004556422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004556422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004556422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}