CBRE Facilitates $81.5 Million Sale of LogistiCenter @ Oxbow in Seattle

CBRE has facilitated the sale of LogistiCenter @ Oxbow, a 202,464-square-foot premier distribution facility in Seattle, WA, to EQT Exeter Real Estate Income Trust for $81.5 million.

Brett Hartzell and Paige Morgan of CBRE National Partners West represented the seller, an institutional investor, in the transaction.

Situated on 45.1 acres at 2871 S. 102nd Street, LogistiCenter @ Oxbow was built in 2021 and is fully leased to a global e-commerce user. This property offers low 10% coverage, 36-foot clear height, 135-foot truck courts, and full drive-around capability. These features are rare in the South Seattle submarket, where only 1.5% of industrial buildings offer 36-foot or higher clear heights.

“This irreplaceable asset will undoubtedly over-achieve due to its incredible location and extremely functional design” said Brett Hartzell, Vice Chairman at CBRE.

Strategically located with direct access to SR-99, just one mile from I-5, and 2.5 miles from King County International Airport, LogistiCenter @ Oxbow provides access to Seattle’s growing population, with four million people within a one-hour drive.

As of Q2 2024, industrial sales in the Puget Sound surpassed the total volume for 2023, with a significant increase in the weighted average price per square foot from $171 to $219 compared to last year, according to CBRE research.