CenterPoint Properties Acquires 152,155 Square Foot Building in Auburn, Washington
Posted By Staff Writers On February 23, 2016 @ 9:47 am
OAK BROOK, IL – CenterPoint Properties is proud to announce the acquisition of a 152,155 square foot facility on 15 acres at 3702 C Street NE in Auburn, Washington. The building will be leased to FedEx Ground as one of its primary distribution and sorting facilities in Western Washington. Matt Wood, Andy Miller and Todd Battison of Kidder Matthews represented both the seller and CenterPoint in the transaction.
“It is very exciting to acquire a facility in such a strategic location with proximity to the Ports of Tacoma and Seattle, and major freeways,” said Chris Tecu, Vice President of Investments at CenterPoint. “We are thrilled to acquire a building with unparalleled logistics advantages in this location.”
The building is located near the Union Pacific and BNSF intermodals and major freeways SR-167, SR-18 and I-5, offering immediate access to the Puget Sound region.
FedEx Ground is a subsidiary of FedEx Corporation that specializes in residential and business-to-business delivery. The Auburn location puts the company just six miles from Amazon Fulfillment Center.
Facility features include 40 exterior docks, 17 drive-in doors and hundreds of trailer positions. The strategic location offers FedEx Ground the ability to reach 10.7 Million people in one day and 44 Million people in two day deliveries.
This is the ninth property CenterPoint has acquired in the Kent Valley since 2014.
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 53.7 Million square feet and 3,171 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.