{"id":1004636018,"date":"2022-12-19T03:50:00","date_gmt":"2022-12-19T11:50:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004636018"},"modified":"2022-12-19T06:29:24","modified_gmt":"2022-12-19T14:29:24","slug":"lasalle-investment-buys-120m-puget-sound-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-buys-120m-puget-sound-industrial-asset\/","title":{"rendered":"LaSalle Investment Buys $120M Seattle Industrial Asset"},"content":{"rendered":"
\"\"<\/a>

Valley Distribution Center<\/p><\/div>\n

LaSalle Investment Management<\/strong> has acquired Valley Distribution Center, a 473,000-square-foot industrial facility in Renton, Wash., for $120 million, according to King County public records.<\/p>\n

The seller, Clarion Partners<\/strong>, was represented in the transaction by CBRE<\/strong>, according to the Puget Sound Business Journal<\/a><\/em>.<\/p>\n

In 2017, Clarion Partners purchased the property for $67 million, CommercialEdge data shows.<\/p>\n

Located at 300 S.W. 27th St., Valley Distribution Center is a one-story concrete cross-dock building equipped with ESFR sprinklers, climate control systems, 386 parking spots and an additional two-level office build-out space, CommercialEdge data shows. The property’s tenants include Graybar Northwest Service Center, packaging and distribution company Sealed Air and a Coca Cola bottler, the same data provider shows.<\/p>\n

Situated on a 22-acre lot, the industrial asset is close to Interstates 5 and 405, within 3.8 miles from Seattle-Tacoma International Airport, 14 miles from downtown Seattle and 15 miles of downtown Bellevue. Wash. CBRE\u2019s team led by Vice Chairman Brett Hartzell and Executive Vice President Paige Morgan worked on behalf of Clarion Partners.<\/p>\n

In September, LaSalle Investment Management also purchased a Class A life science asset in San Diego<\/a>, fully occupied by Vertex. Last year, the company sold one of its Seattle industrial assets, a 315,392-square-foot industrial park for $72.6 million<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Valley Distribution Center last traded in 2017. <\/p>\n","protected":false},"author":2991,"featured_media":1004636019,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,21783,21742,1610,15],"tags":[32789,32790,33722],"class_list":["post-1004636018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-investment","category-latest","category-seattle","category-west","tag-cbre","tag-clarion-partners","tag-lasalle-investment-management"],"acf":[],"yoast_head":"\nLaSalle Investment Buys $120M Seattle Industrial Asset - CPE<\/title>\n<meta name=\"description\" content=\"LaSalle Investment Management has bought a 473,000-square-foot industrial asset in Renton, Wash., for $120 million, King County records show.\" \/>\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\/lasalle-investment-buys-120m-puget-sound-industrial-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LaSalle Investment Buys $120M Seattle Industrial Asset\" \/>\n<meta property=\"og:description\" content=\"LaSalle Investment Management has bought a 473,000-square-foot industrial asset in Renton, Wash., for $120 million, King County records show.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-buys-120m-puget-sound-industrial-asset\/\" \/>\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=\"2022-12-19T11:50:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-19T14:29:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/988405-e1671446115871.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\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\/lasalle-investment-buys-120m-puget-sound-industrial-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-buys-120m-puget-sound-industrial-asset\/\",\"name\":\"LaSalle Investment Buys $120M Seattle Industrial Asset - 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