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Import volume along the West Coast continues to rise, with inbound activity at the Ports of Tacoma and Seattle hitting a new high-water mark for the year in September. CenterPoint has ramped up its acquisitions in high-barrier, port-proximate submarkets coast-to-coast and now has amassed a Seattle-area portfolio of 21 properties and more than 3.2 million SF.
“This acquisition is a strategic addition to our wider assemblage and cements our position as one of the largest landowners in the Port of Tacoma,” said Greg Pearson, CenterPoint Vice President of Investments.
The 2021 Marc Street property is served by rail, and in addition to a repositioned and secured yard, it will feature a 1,500 SF refreshed office.
CenterPoint owns two adjacent properties on Lincoln Avenue and Marc Street. The properties are a half-mile from the Port of Tacoma deep-water container terminals, offer easy access to SR-167 and the I-5 and I-705 freeways, and are 24 miles from the Seattle-Tacoma International Airport.
“This assemblage has been a labor of love,” said Ryan Dunlap, CenterPoint Senior Vice President of Investments. “Our conviction in the port strategy is unwavering.”
Raymond Schuler, SIOR of Kidder Matthews represented the seller, while Christian Mattson, SIOR, and Billy Moultrie of Lee & Associates represented CenterPoint.
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, follow us on LinkedIn. For all media inquiries, including requests for interviews with CenterPoint executives, please contact media@centerpoint.com or 630.586.8285.
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