CenterPoint Properties Announces Acquisition of Port-Proximate Seattle Facility
Posted By Staff Writers On October 31, 2013 @ 11:22 pm
OAK BROOK, IL – CenterPoint Properties proudly announces the acquisition of a 39,739 SF operations center and truck maintenance facility on six acres located at 4500 West Marginal Way, Seattle, WA. Matt McGregor and Bill Condon of Colliers International represented CenterPoint in the transaction.
The facility, currently leased to Evergreen Trails, Inc., is located within close proximity to Seattle’s Central Business District, the Port of Seattle and both the BNSF and UP Seattle Intermodal facilities, offering the potential for future port-related operations such as container storage or transload capabilities.
IG-1 Industrial zoning is flexible and allows for both transportation and storage uses. The property features 15 maintenance and three storage drive-in-bays, four cranes, 133 car and 110 bus parking spaces, secured facility and lot, fueling station and a bus washing station.
“As the city continues to grow south, the existing industrial base is being redeveloped into alternative uses, reducing the overall port-proximate square footage available to industrial clients,” remarked Chad Vande Zande, Senior Vice President Investments of CenterPoint Properties. “The acquisition of the 4500 West Marginal Way facility compliments our national expansion initiative to locate in competitive markets, accommodating port-related customers with strategically located and highly functional facilities.”
About CenterPoint Properties
CenterPoint Properties is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. The company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. CenterPoint‘s portfolio includes 45.5 million square feet and 6,400 acres under development in the company’s integrated intermodal industrial parks. For more information on CenterPoint Properties, visit www.centerpoint.com or follow @centerpointprop on Twitter.
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