An entity affiliated with Pine Forest Properties, a commercial real estate investor, has acquired an Amazon-leased industrial building at 607 Riverside Road in Everett for $51 million.
Based in Bellevue, Pine Forest develops, acquires, and manages office, industrial and multi-family properties throughout the Pacific Northwest. Pine Forest acquired the property from global investment firm KKR.
KKR had previously purchased the site in 2020 for $45.1 million. The sale of the building, which serves as a fulfillment center, will not impact Amaon’s lease, reported the Puget Sound Business Journal. Developed by Panattoni Development in 2019 as part of the Riverside Business Park, the facility was leased to Amazon shortly after its completion. KKR was represented by CBRE’s Brett Hartzell.
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