The seller was Levitt Trust, a New York-based investment firmwith a commercial portfolio valued at $500 million. Ted Gibbons,president of Investment Realty Advisors, was the listing broker.The new owner is the Rivily Family, a Seattle-based family thatowns multiple properties in the Kent Valley. They were representedin the transaction by Rex Noffsigner of Colliers International.

Goodyear Tire, the world's largest tire manufacturer, uses thefacility to distribute automobile, truck and airplane tires to sixstates and Canada. The company pays an annual rent of $735,000through the end of its initial lease term, which is Dec. 1, 2007,but has the option to take for another 10 years at $841, 110annually, and then for another 15 years beyond that if it sochooses, according to the offering memorandum.

The Goodyear facility sits on nine acres at 800 Milwaukee Algona, at the south end of the Kent Valley industrial area,considered the premier institutional market for industrial propertyin the Puget Sound. The building has a clear height of 28 feet, 19truck doors, rail service and 2,000 sf of office space.

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