CBRE Facilitates $64.21 Million Sale of a Seattle Industrial Portfolio

CBRE announced the sale of a 315,422-square-foot Seattle Industrial Portfolio.

CBRE National Partners West’s Brett Hartzell and Paige Morgan, along with Andrew Stark and Andrew Hitchcock, represented the seller.

The portfolio includes two industrial facilities: Kent Valley DC II, Kent Valley DC IV. These properties are in Kent, WA which is an easy and convenient 5-minute drive from I-5, SR-167 and SR-516 freeways.

“This industrial portfolio represents irreplaceable real estate in the infill Kent Valley submarket,” said Hartzell. “Since 2021, only four trades of a similar scale and profile have occurred in the Kent Valley.” Kent Valley serves as a vital distribution hub for the Pacific Northwest.

The two high-quality distribution buildings (Kent Valley DC II & IV) were constructed between 1995-1997 and feature 30' clear heights and a high dock door count.

According to CBRE Research, Kent Valley rents have increased by 127% since 2015 and recorded a 13% rent growth in 2023, making it the most desirable submarket in the Pacific Northwest.