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The properties in the portfolio have an average vintage of 2004, boast low vacancy rates, and offer affordable options for renters in attractive Texas and Florida markets, Starwood Capital states.
A local Puget Sound private investor traded Pacific West Business Center in Kent, WA and White River Corporate Park in Auburn, WA to TA Realty for approximately $22 million.
Overall, 2018 was the cycle's best year with 52.2 million square feet of gross leasing across all industries, while 2011 was the second best at 45.3 million square feet, according to a report by Cushman & Wakefield.