KENT, WA-Industrial Income Trust, a Denver-based non-traded REIT, is expanding its portfolio in the Puget Sound region. The company has bought Progressive International's distribution facility at 6111 S. 228th St. in Kent for $17.75 million.
The 228,000-square-foot distribution center includes over 28,250 square feet of office space. Together with Progressive International's warehouse and the Benaroya Business Park, IIT owns five properties totaling approximately 1.4 million square feet in the Puget Sound market. The Progressive warehouse was sold by a limited liability company. For the full story, go to Puget Sound Business Journal .
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