CenterPoint Expands West Coast Presence, Acquires On-Port Properties in Tacoma

Press Releases

Posted By Staff Writers On July 10, 2019 @ 4:32 pm

OAK BROOK, IL – CenterPoint Properties is proud to announce the strategic acquisitions of 1906/1916 East Marc Street and 1614/1620 Lincoln Avenue in Tacoma, Washington. The investment was made across three different transactions along both sides of Lincoln Avenue.

“The Port of Tacoma remains a focus as we evaluate the West Coast industrial landscape,” explained Ryan Dunlap, CenterPoint Senior Vice President of Investments. “We are confident this assemblage can facilitate growth and throughput at the port.”

Located in the tide flats of the Port of Tacoma, the sites offer easy access to I-5, SR-167 and I-705.

“We hope to capitalize on the overwhelming demand for trailer and container space in the Puget Sound area,” said Greg Pearson, CenterPoint Vice President of Investments.

1614/1620 Lincoln Avenue leased immediately following the close of escrow. The CenterPoint Lincoln Logistics Yard at 1906/1916 East Marc Street will involve a short leaseback and is currently marketed as available by Lee & Associates.

TACOMA PROPERTY SPECS

CenterPoint Lincoln Logistics Yard 1906/1916 East Marc Street	1614/1620 Lincoln Avenue
7.2 total acres 5 dock doors, 5 oversized grade-level doors 18ʹ/28ʹ clear height Heavy power AVAILABLE FOR LEASE	7.1 total acres 7,621 SF office space with secured entry gate FULLY LEASED

CenterPoint was represented by Christian Mattson and Billy Moultrie of Lee & Associates. The sellers were represented by Theron Meier of Neil Walter Company (1614 Lincoln Avenue), Brandon Gates of Kidder Matthews (1620 Lincoln Avenue) and Jeff Jagosh of Site Selection NW (1906/1916 East Marc Street).

For acquisition opportunities, please contact Ryan Dunlap (rdunlap@centerpoint.com) or Greg Pearson (gpearson@centerpoint.com).

About CenterPoint Properties
CenterPoint is an industrial real estate company made up of dedicated thinkers, innovators and leaders with the creativity and know-how to tackle the industry’s toughest challenges. And it’s those kinds of problems—the delicate, the complex, the seemingly-impossible—that we relish most. Because with an agile team, substantial access to capital and industry-leading expertise, those are exactly the kinds of problems we’re built to solve. For more information on CenterPoint Properties, visit centerpoint.com, follow @CenterPointProp on Twitter or engage with us on LinkedIn.