Realterm has acquired a prime three-property industrial outdoor storage (IOS) portfolio located in the highly desired infill Seattle submarket of Kent, Washington.
The three adjacent properties, 7915 South 261st Street and 26220 & 26330 79th Avenue South encompass 38,900 square feet on 9.3 contiguous acres, with secured parking, storage and maintenance facilities.
The properties are fully leased to two long-term tenants that have operated out of the properties for over a decade. “This strategic acquisition in Kent Valley aligns perfectly with our investment thesis targeting high-barrier-to-entry markets and properties with transportation-centric fundamentals,” said Stephen Panos, Managing Director, Senior Fund Manager at Realterm.
Located in the strongest Seattle sub-market of Kent Valley, the portfolio boasts a central location for logistics activity, enabling users to service the entire region. Proximal transportation includes access to SR-167 and major highway I-5, allowing easy access to the Port of Tacoma, Port of Seattle and Downtown Seattle.
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