{"id":1004741941,"date":"2024-12-30T05:21:18","date_gmt":"2024-12-30T13:21:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004741941"},"modified":"2024-12-30T05:21:20","modified_gmt":"2024-12-30T13:21:20","slug":"bridge-industrial-makes-64m-purchase-in-seattle","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bridge-industrial-makes-64m-purchase-in-seattle\/","title":{"rendered":"Bridge Industrial Makes $64M Purchase in Seattle"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/1000404-e1735560950884.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004741952\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bridge-industrial-makes-64m-purchase-in-seattle\/attachment\/1000404\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/1000404-e1735560950884.jpg\" data-orig-size=\"1000,750\" 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;\\u00a9 Yardi Systems, Inc.&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=\"1000404\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;6205 S 231st St., an industrial building in Kent, Wash. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/1000404-e1735560950884.jpg?w=1000\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/1000404-e1735560950884.jpg\" alt=\"Exterior shot of 6205 S 231st St., an industrial building in Kent, Wash.\" class=\"wp-image-1004741952\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/1000404-e1735560950884.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/1000404-e1735560950884.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/1000404-e1735560950884.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption class=\"wp-element-caption\">Completed in 1995, the industrial building at 6205 S. 231st St. comprises some 115,000 square feet. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Bridge Industrial has purchased a two-building industrial portfolio totaling 315,422 square feet in Kent, Wash. An entity affiliated with Link Logistics sold the assets for $64.2 million, according to King County public records.<\/p>\n\n\n\n<p>The buyer also secured a $46.7 million originated by PGIM Real Estate, the same source shows. CBRE brokered the deal on behalf of the seller. <\/p>\n\n\n\n<p>The portfolio includes two industrial buildings dubbed Kent Valley DC II and Kent Valley DC IV, at 6111 S. 228th St. and 6205 S. 231st St. Built between 1995 and 1997, the two properties feature clear heights between 24 and 30 feet, ample column spacing, sky lights, ESFR sprinkler systems, office build-out components, dock levers and bumpers and a total of 397 vehicle parking spots, according to CommercialEdge.<\/p>\n\n\n\n<p>Located some 18 miles from downtown Seattle, Kent Valley DC II and Kent Valley DC IV occupy approximately 15 acres close to Interstate 5, as well as to state routes 167 and 516. Seattle-Tacoma International Airport is 5 miles away, while King County International Airport is 14 miles away.<\/p>\n\n\n\n<p>CBRE Executive Vice Presidents Paige Morgan, Andrew Stark and Andrew Hitchcock, together with Vice Chairman Brett Hartzell, represented the seller.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-seattle-attracting-significant-deals\">Seattle attracting significant deals<\/h2>\n\n\n\n<p>As of November, Western industrial markets continued to occupy top positions for industrial investment volume, six of them recording year-to-date figures above $1 billion, according to a recent <a href=\"https:\/\/www.commercialsearch.com\/news\/industrial-report-december-2024-commercialedge\/\" target=\"_blank\" rel=\"noreferrer noopener\">CommercialEdge report<\/a>. <\/p>\n\n\n\n<p>Sales in Seattle totaled $1 billion\u2014more than double the 2023 amount. The market also posted one of the highest sale prices per square foot in the nation, at $208 per square foot, ranking sixth among the most priciest metros in the U.S.<\/p>\n\n\n\n<p>Recent industrial deals in the area include EQT Exeter&#8217;s <a href=\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-82m-for-last-mile-industrial-asset\/\" target=\"_blank\" rel=\"noreferrer noopener\">$81.5 million purchase<\/a> of a 202,464-square-foot building in Tukwila, Wash. Amazon fully occupies the metro Seattle property.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PGIM Real Estate provided nearly $47 million in acquisition financing.<\/p>\n","protected":false},"author":2991,"featured_media":1004741952,"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":[51470,32789,51531],"class_list":["post-1004741941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-seattle","category-west","tag-bridge-industrial","tag-cbre","tag-link-logistics"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bridge Industrial Makes $64M Purchase in Seattle - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Bridge Industrial purchased Kent Valley DC II and Kent Valley DC IV, two industrial buildings in Kent, Wash., from Link Logistics.\" \/>\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\/bridge-industrial-makes-64m-purchase-in-seattle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bridge Industrial Makes $64M Purchase in Seattle\" \/>\n<meta property=\"og:description\" content=\"Bridge Industrial purchased Kent Valley DC II and Kent Valley DC IV, two industrial buildings in Kent, Wash., from Link Logistics.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bridge-industrial-makes-64m-purchase-in-seattle\/\" \/>\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=\"2024-12-30T13:21:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-30T13:21:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/1000404-e1735560950884.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\/bridge-industrial-makes-64m-purchase-in-seattle\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/bridge-industrial-makes-64m-purchase-in-seattle\/\",\"name\":\"Bridge Industrial Makes $64M Purchase in Seattle - 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