Industrial

The new distribution facility will be 1M square feet.

The Puget Sound area has many large corporations driving growth such as Boeing, Microsoft, Amazon, Starbucks and Costco, leading to construction of all building types.

"This acquisition continues the expansion of our nationwide industrial portfolio, which seeks to secure strong, income-oriented returns at this mature stage of the current real estate cycle,” says Brodie Ruland, ASB senior vice president and Northeast region head.  

GM also notes that in addition to the previously announced closure of its assembly plant in Gunsan, Korea, GM will cease operations at two additional plants outside North America by the end of 2019.

With the closing of this acquisition, GNL has closed 18 acquisitions for $393 million this year.

Speculative development is much less prevalent today than in past boom times–with many of Dallas/Fort Worth's large office and industrial projects significantly leased up prior to construction.