{"id":1004716243,"date":"2024-06-06T04:22:46","date_gmt":"2024-06-06T12:22:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004716243"},"modified":"2024-06-06T05:06:20","modified_gmt":"2024-06-06T13:06:20","slug":"eqt-exeter-pays-71m-for-washington-industrial-assets","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-71m-for-washington-industrial-assets\/","title":{"rendered":"EQT Exeter Pays $71M for Washington Industrial Assets"},"content":{"rendered":"\n

<\/p>\n\n\n

\n
\"Properties
Construction on Gayteway Business Park began in 2019, with buildings coming online in 2020, 2023 and 2024. Image courtesy of CBRE<\/em><\/figcaption><\/figure><\/div>\n\n\n

EQT Exeter has purchased four industrial buildings totaling 365,000 square feet, part of Gayteway Business Park in Arlington, Wash. GS Venture Partners sold the Class A assets for $70.6 million, according to CommercialEdge information. CBRE and the Broderick Group represented the seller.<\/p>\n\n\n\n

The traded assets include Buildings B & C, totaling 130,315 square feet, alongside the 117,060-square-foot Building F and the 117,800-square-foot Building G.<\/p>\n\n\n\n

GS Venture Partners broke ground on the 54-acre Gayteway Business Park in 2019, four years after purchasing the land for $4.2 million from Trinity Partnership.<\/p>\n\n\n\n

\n\n\n\n

READ ALSO<\/strong>: Why 2024 Is the Year to Invest in Industrial Real Estate<\/a><\/p>\n\n\n\n

\n\n\n\n

Buildings B and C were the first to rise inside the development and came online in 2020. Buildings F and G launched in 2023 and 2024, respectively. The project may include five more buildings totaling 496,144 square feet, currently in the planning and permitting stages, according to CommercialEdge data.<\/p>\n\n\n\n

The purchased assets feature dock-high and grade-level loading, concrete truck courts and 24- to 30-foot clear heights. Moreover, Buildings B & C include nearly 10,000 square feet of office space.<\/p>\n\n\n\n

The park was fully leased at the time of the acquisition. Tenants include Quantum Windows and Doors, which leased the entire Building F, and C&C Packaging Services, which occupies 31,621 square feet at Building C.<\/p>\n\n\n\n

Located at 20101 and 19927 67th Ave. NE, the facilities are less than 2 miles away from the Arlington Municipal Airport and some 5 miles away from Interstate 5.<\/p>\n\n\n\n

CBRE Vice Chairman Brett Hartzell alongside Executive Vice President Paige Morgan and Broderick Group Co-Founder Al Hodge represented GS Venture Partners.<\/p>\n\n\n\n

EQT bullish on the industrial market<\/h2>\n\n\n\n

Following EQT Exeter\u2019s closure of a $4.9 billion industrial fund<\/a> last year, the firm went on a shopping spree\u2014just last month the firm purchased a 5.1-million-square-foot industrial portfolio<\/a> in metro Minneapolis-St. Paul for more than $284.6 million. Prologis sold the facilities.<\/p>\n\n\n\n

The month before, EQT acquired a 641,906-square-foot Phoenix-area industrial asset<\/a> from Developer BET Investments for $60.1 million. Also in April, the firm purchased an 819,004-square-foot industrial facility<\/a> in Fontana, Calif., for $197 million.<\/p>\n\n\n\n

Seattle’s industrial trading scene<\/h2>\n\n\n\n

Year-to-date as of April, investors traded more than $15 billion worth of industrial assets nationwide, with properties changing hands at an average $146 per square foot, according to a CommercialEdge report<\/a>.<\/p>\n\n\n\n

Metro Seattle\u2019s industrial volume totaled $310 million in the same period, assets selling for $241 per square foot, the same report reveals. The sales price was 65 percent higher than the national average.<\/p>\n","protected":false},"excerpt":{"rendered":"

CBRE represented the seller of the four Arlington facilities.<\/p>\n","protected":false},"author":3471,"featured_media":1004716251,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,1610,15],"tags":[32789,51502],"class_list":["post-1004716243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-seattle","category-west","tag-cbre","tag-eqt-exeter"],"acf":[],"yoast_head":"\nEQT Exeter Pays $71M for Washington Industrial Assets - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"EQT Exeter has purchased four industrial assets totaling 365,000 square feet, part of Gayteway Business Park in Arlington, Wash.\" \/>\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\/eqt-exeter-pays-71m-for-washington-industrial-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EQT Exeter Pays $71M for Washington Industrial Assets\" \/>\n<meta property=\"og:description\" content=\"EQT Exeter has purchased four industrial assets totaling 365,000 square feet, part of Gayteway Business Park in Arlington, Wash.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-71m-for-washington-industrial-assets\/\" \/>\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=\"2024-06-06T12:22:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-06T13:06:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/gayteway-business-park-arlington-wa-1080x1080-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Claudiu Tiganescu\" \/>\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\/eqt-exeter-pays-71m-for-washington-industrial-assets\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-71m-for-washington-industrial-assets\/\",\"name\":\"EQT Exeter Pays $71M for Washington Industrial Assets - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-71m-for-washington-industrial-assets\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-71m-for-washington-industrial-assets\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/gayteway-business-park-arlington-wa-1080x1080-1.jpg\",\"datePublished\":\"2024-06-06T12:22:46+00:00\",\"dateModified\":\"2024-06-06T13:06:20+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cbed638584257d6fb5a2a9c95c982b66\"},\"description\":\"EQT Exeter has purchased four industrial assets totaling 365,000 square feet, part of Gayteway Business Park in Arlington, Wash.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-71m-for-washington-industrial-assets\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-71m-for-washington-industrial-assets\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-71m-for-washington-industrial-assets\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/gayteway-business-park-arlington-wa-1080x1080-1.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/gayteway-business-park-arlington-wa-1080x1080-1.jpg\",\"width\":1200,\"height\":900,\"caption\":\"Construction on the Gayteway Business Park began in 2019, with buildings coming online in 2020, 2023 and 2024. Image courtesy of CBRE\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-71m-for-washington-industrial-assets\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"EQT Exeter Pays $71M for Washington Industrial Assets\"}]},{\"@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\/cbed638584257d6fb5a2a9c95c982b66\",\"name\":\"Claudiu Tiganescu\",\"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\/06\/Claudiu_Tiganescu.jpg?w=54\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Claudiu_Tiganescu.jpg?w=54\",\"caption\":\"Claudiu Tiganescu\"},\"description\":\"Claudiu Tiganescu is an Associate Editor with Multi-Housing News and Commercial Property Executive. With a Bachelor's in English, a minor in Norwegian, and a Master's in linguistics, Claudiu is your go-to source for the latest commercial real estate news, particularly in the affordable, single-family rental, conversions and industrial sectors. You may reach him at claudiu.tiganescu@cpe-mhn.com\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/claudiu-tiganescu\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"EQT Exeter Pays $71M for Washington Industrial Assets - Commercial Property Executive","description":"EQT Exeter has purchased four industrial assets totaling 365,000 square feet, part of Gayteway Business Park in Arlington, Wash.","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\/eqt-exeter-pays-71m-for-washington-industrial-assets\/","og_locale":"en_US","og_type":"article","og_title":"EQT Exeter Pays $71M for Washington Industrial Assets","og_description":"EQT Exeter has purchased four industrial assets totaling 365,000 square feet, part of Gayteway Business Park in Arlington, Wash.","og_url":"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-71m-for-washington-industrial-assets\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2024-06-06T12:22:46+00:00","article_modified_time":"2024-06-06T13:06:20+00:00","og_image":[{"width":1200,"height":900,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/gayteway-business-park-arlington-wa-1080x1080-1.jpg","type":"image\/jpeg"}],"author":"Claudiu Tiganescu","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\/eqt-exeter-pays-71m-for-washington-industrial-assets\/","url":"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-71m-for-washington-industrial-assets\/","name":"EQT Exeter Pays $71M for Washington Industrial Assets - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-71m-for-washington-industrial-assets\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-71m-for-washington-industrial-assets\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/gayteway-business-park-arlington-wa-1080x1080-1.jpg","datePublished":"2024-06-06T12:22:46+00:00","dateModified":"2024-06-06T13:06:20+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cbed638584257d6fb5a2a9c95c982b66"},"description":"EQT Exeter has purchased four industrial assets totaling 365,000 square feet, part of Gayteway Business Park in Arlington, Wash.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-71m-for-washington-industrial-assets\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-71m-for-washington-industrial-assets\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-71m-for-washington-industrial-assets\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/gayteway-business-park-arlington-wa-1080x1080-1.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/gayteway-business-park-arlington-wa-1080x1080-1.jpg","width":1200,"height":900,"caption":"Construction on the Gayteway Business Park began in 2019, with buildings coming online in 2020, 2023 and 2024. Image courtesy of CBRE"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-71m-for-washington-industrial-assets\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"EQT Exeter Pays $71M for Washington Industrial Assets"}]},{"@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\/cbed638584257d6fb5a2a9c95c982b66","name":"Claudiu Tiganescu","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\/06\/Claudiu_Tiganescu.jpg?w=54","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Claudiu_Tiganescu.jpg?w=54","caption":"Claudiu Tiganescu"},"description":"Claudiu Tiganescu is an Associate Editor with Multi-Housing News and Commercial Property Executive. With a Bachelor's in English, a minor in Norwegian, and a Master's in linguistics, Claudiu is your go-to source for the latest commercial real estate news, particularly in the affordable, single-family rental, conversions and industrial sectors. You may reach him at claudiu.tiganescu@cpe-mhn.com","url":"https:\/\/www.commercialsearch.com\/news\/author\/claudiu-tiganescu\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/gayteway-business-park-arlington-wa-1080x1080-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004716243","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\/3471"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004716243"}],"version-history":[{"count":8,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004716243\/revisions"}],"predecessor-version":[{"id":1004716351,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004716243\/revisions\/1004716351"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004716251"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004716243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004716243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004716243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}