{"id":1004671123,"date":"2023-07-07T01:59:40","date_gmt":"2023-07-07T09:59:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004671123"},"modified":"2023-07-07T06:17:06","modified_gmt":"2023-07-07T14:17:06","slug":"dermody-properties-acquires-seattle-area-industrial-park-for-132m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-acquires-seattle-area-industrial-park-for-132m\/","title":{"rendered":"Dermody Properties Acquires Seattle-Area Industrial Park for $132M"},"content":{"rendered":"
\"Bridge<\/a>

Bridge Point Lacey. Image courtesy of Bridge Industrial<\/em><\/p><\/div>\n

Industrial development and investment firm Dermody Properties<\/strong> has purchased Bridge Point Lacey, a three-building, 717,544-square-foot Class A industrial campus in Lacey, Wash., and rebranded it as I-5 Logistics Center. According to Thurston County records and CommercialEdge information, the firm picked up the asset for $132.1 million from Morgan Stanley<\/strong>.<\/p>\n

The acquisition marks an addition to Dermody’s Pacific Northwest portfolio of more than 1.6 million square feet, concentrated around Seattle and Portland, Ore.<\/p>\n

Bridge Point Lacey, up close<\/h2>\n

Bridge Industrial<\/strong> developed the campus between 2019 and 2020, on a 41-acre parcel situated in the Hawks Prairie master-planned industrial park. Innovo Architects<\/strong> and Poe Construction<\/strong> were also part of the project; the former provided design and engineering services and the latter served as general contractor.<\/p>\n

Located at 3300-3316 Hogum Bay Road NE, the three industrial buildings measure 514,000 square feet, 110,00 square feet and 98,114 square feet, respectively. The facilities feature 36- and 32-foot clear heights, a total of 176 dock-high loading doors and eight grade-level doors, alongside 324 trailer stalls that include electric vehicle chargers.<\/p>\n

\n

READ ALSO: <\/strong>We Also Need to Amenitize Industrial. Start With the Break Room.<\/a><\/p>\n

\n

The campus was fully leased at the time of sale. Amazon is one of the tenants, having leased 510,040 square feet at Building A in 2021, CommercialEdge data shows. Target, The Home Depot, Walmart and Costco also operate facilities in the area.<\/p>\n

Located less than 2 miles north of Interstate 5, the logistics center is 30 miles of the Port of Tacoma, as well as 45 miles from Seattle-Tacoma International Airport. Downtown Seattle is 55 miles northeast.<\/p>\n

Seattle’s industrial strength<\/h2>\n

Outside of California, Seattle is the largest industrial market in the Western U.S. According to data from a recent CommercialEdge report<\/a>, the metro boasted a year-to-date transaction volume of $180 million as of May, alongside a pipeline nearing 6.4 million square feet and a vacancy rate of 4.0 percent.<\/p>\n

In May, electric vehicle giant Tesla signed a 245,000-square-foot lease for its first facility in the region, in the town of Marysville, Wash. The property will house a parts assembly and manufacturing plant<\/a>.<\/p>\n

One month prior, also on the leasing front, Harbor Freight Tolls inked a long-term lease for 782,875 square feet of space at the FRED310<\/a> industrial campus, an ongoing two-phase development that will measure out at 4 million square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amazon is a tenant at the fully leased campus.<\/p>\n","protected":false},"author":3012,"featured_media":1004671125,"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":[36664,52087,32774,52088],"class_list":["post-1004671123","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-investment","category-latest","category-seattle","category-west","tag-dermody-properties","tag-innovo-architects","tag-morgan-stanley","tag-poe-construction"],"acf":[],"yoast_head":"\nDermody Properties Acquires Seattle-Area Industrial Park for $132M - CPE<\/title>\n<meta name=\"description\" content=\"Dermody Properties acquired Bridge Point Lacey, a three-building, 717,544-square-foot industrial campus in Lacey, Wash., for $132.1 million.\" \/>\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-acquires-seattle-area-industrial-park-for-132m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dermody Properties Acquires Seattle-Area Industrial Park for $132M\" \/>\n<meta property=\"og:description\" content=\"Dermody Properties acquired Bridge Point Lacey, a three-building, 717,544-square-foot industrial campus in Lacey, Wash., for $132.1 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dermody-properties-acquires-seattle-area-industrial-park-for-132m\/\" \/>\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=\"2023-07-07T09:59:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-07T14:17:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/bridgelacey-e1688678793271.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1740\" \/>\n\t<meta property=\"og:image:height\" content=\"1305\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gabriel Frank\" \/>\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-acquires-seattle-area-industrial-park-for-132m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/dermody-properties-acquires-seattle-area-industrial-park-for-132m\/\",\"name\":\"Dermody Properties Acquires Seattle-Area Industrial Park for $132M - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dermody-properties-acquires-seattle-area-industrial-park-for-132m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dermody-properties-acquires-seattle-area-industrial-park-for-132m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/bridgelacey-e1688678793271.jpg\",\"datePublished\":\"2023-07-07T09:59:40+00:00\",\"dateModified\":\"2023-07-07T14:17:06+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cf1bfd2d6753f6ea305911ffd020862c\"},\"description\":\"Dermody Properties acquired Bridge Point Lacey, a three-building, 717,544-square-foot industrial campus in Lacey, Wash., for $132.1 million.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dermody-properties-acquires-seattle-area-industrial-park-for-132m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/dermody-properties-acquires-seattle-area-industrial-park-for-132m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dermody-properties-acquires-seattle-area-industrial-park-for-132m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/bridgelacey-e1688678793271.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/bridgelacey-e1688678793271.jpg\",\"width\":1740,\"height\":1305,\"caption\":\"Bridge Point Lacey. Image courtesy of Bridge Industrial\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dermody-properties-acquires-seattle-area-industrial-park-for-132m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Dermody Properties Acquires Seattle-Area Industrial Park for $132M\"}]},{\"@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\/cf1bfd2d6753f6ea305911ffd020862c\",\"name\":\"Gabriel Frank\",\"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\/05\/GF2.jpg?w=90\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/GF2.jpg?w=90\",\"caption\":\"Gabriel Frank\"},\"description\":\"Gabriel Frank is a Senior Associate Editor with Multi-Housing News and Commercial Property Executive. He has a background in journalism, and is the editor of MHN's Daily and Weekly newsletters. He lives in New York City.\",\"birthDate\":\"2000-05-11\",\"gender\":\"Male\",\"jobTitle\":\"Editor\",\"worksFor\":\"Yardi Systems\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/gabriel-frank\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Dermody Properties Acquires Seattle-Area Industrial Park for $132M - CPE","description":"Dermody Properties acquired Bridge Point Lacey, a three-building, 717,544-square-foot industrial campus in Lacey, Wash., for $132.1 million.","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-acquires-seattle-area-industrial-park-for-132m\/","og_locale":"en_US","og_type":"article","og_title":"Dermody Properties Acquires Seattle-Area Industrial Park for $132M","og_description":"Dermody Properties acquired Bridge Point Lacey, a three-building, 717,544-square-foot industrial campus in Lacey, Wash., for $132.1 million.","og_url":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-acquires-seattle-area-industrial-park-for-132m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2023-07-07T09:59:40+00:00","article_modified_time":"2023-07-07T14:17:06+00:00","og_image":[{"width":1740,"height":1305,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/bridgelacey-e1688678793271.jpg","type":"image\/jpeg"}],"author":"Gabriel Frank","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-acquires-seattle-area-industrial-park-for-132m\/","url":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-acquires-seattle-area-industrial-park-for-132m\/","name":"Dermody Properties Acquires Seattle-Area Industrial Park for $132M - CPE","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-acquires-seattle-area-industrial-park-for-132m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-acquires-seattle-area-industrial-park-for-132m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/bridgelacey-e1688678793271.jpg","datePublished":"2023-07-07T09:59:40+00:00","dateModified":"2023-07-07T14:17:06+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cf1bfd2d6753f6ea305911ffd020862c"},"description":"Dermody Properties acquired Bridge Point Lacey, a three-building, 717,544-square-foot industrial campus in Lacey, Wash., for $132.1 million.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-acquires-seattle-area-industrial-park-for-132m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/dermody-properties-acquires-seattle-area-industrial-park-for-132m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-acquires-seattle-area-industrial-park-for-132m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/bridgelacey-e1688678793271.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/bridgelacey-e1688678793271.jpg","width":1740,"height":1305,"caption":"Bridge Point Lacey. Image courtesy of Bridge Industrial"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/dermody-properties-acquires-seattle-area-industrial-park-for-132m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Dermody Properties Acquires Seattle-Area Industrial Park for $132M"}]},{"@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\/cf1bfd2d6753f6ea305911ffd020862c","name":"Gabriel Frank","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\/05\/GF2.jpg?w=90","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/GF2.jpg?w=90","caption":"Gabriel Frank"},"description":"Gabriel Frank is a Senior Associate Editor with Multi-Housing News and Commercial Property Executive. He has a background in journalism, and is the editor of MHN's Daily and Weekly newsletters. He lives in New York City.","birthDate":"2000-05-11","gender":"Male","jobTitle":"Editor","worksFor":"Yardi Systems","url":"https:\/\/www.commercialsearch.com\/news\/author\/gabriel-frank\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/bridgelacey-e1688678793271.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004671123","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\/3012"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004671123"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004671123\/revisions"}],"predecessor-version":[{"id":1004671269,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004671123\/revisions\/1004671269"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004671125"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004671123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004671123"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004671123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}