FIFE, WA—Avison Young's national industrial capital markets team of Erik Foster and Mike Wilson has been awarded the exclusive sale listing for a fully-occupied, 324,220-square-foot corporate distribution facility in the Seattle area.
The state-of-the-art building at 3011 70th Ave. in Fife, (near Tacoma) is 100 % leased and occupied by Northwest Metal Products Co., which also owns the building. The facility, which was built in 1994, is used to fabricate sheet metal products that are distributed throughout the West Coast and into Canada.
"This is an ideal opportunity for investors to secure a fully-leased building with excellent access to the Port of Tacoma, one of the largest port container hubs in North America, along with the intermodal capabilities in that region," said Foster, an Avison Young principal and the practice leader of the firm's national industrial capital markets team. “This high quality asset is ideal for investors looking to gain a foothold into a core distribution market.”
The institutional-quality building features tilt wall construction and newly installed motion sensor T-5 lighting. The building has 40 truck stalls and 24 tractor stalls, along with 24 dock high doors and 13 drive-in doors. The facility, located on an 18.73-acre site, features easy access to Interstate 5 and is also close to the Tacoma International Airport.
The Foster and Wilson team has 30 years of combined experience in investment sales, providing asset advisory, disposition and sale-leaseback services to commercial property owners throughout the country. The team has completed transactions totaling more than $4 billion. Both are principals of the firm.
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