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Sale Demonstrates Strength of Pierce County Industrial Markets
Seattle, WA – July, 22, 2021 – Colliers’ industrial team of Bill Condon and Matt McGregor today announced the sale of Tacoma Supply Chain Center, a brand new, state-of-the-art, Class A industrial complex in Frederickson, WA. Condon and McGregor represented the buyer, Dalfen Industrial, in the transaction which closed this week for approximately $115M.
Completed in June of 2021, Tacoma Supply Chain Center features three buildings totaling 711,855 square feet. The property offers a mix of dock height and grade level loading and can accommodate parking for more than 300 trailers.
This sale highlights the strength of Pierce County’s industrial markets, which have been garnering increased demand and development in recent years. Frederickson, in particular, offers excellent proximity to the Port of Tacoma, as well as major trucking routes like State Route 512 and Interstate 5.
“Frederickson is as active as any market in the region,” said Condon. “Not only is it one of the strongest submarkets in the Puget Sound region, it rivals any submarket on the West Coast.”
“Many corporate tenants are now calling Frederickson home because of its great surrounding labor force and the number of high-quality facilities located there,” added McGregor. “We expect momentum to continue in this area and for this project to be highly successful.”
About Colliers International Group Inc. Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
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Completed in June of 2021, Tacoma Supply Chain Center features three buildings totaling 711,855 square feet. The property offers a mix of dock height and grade level loading and can accommodate parking for more than 300 trailers.
This sale highlights the strength of Pierce County’s industrial markets, which have been garnering increased demand and development in recent years. Frederickson, in particular, offers excellent proximity to the Port of Tacoma, as well as major trucking routes like State Route 512 and Interstate 5.
“Frederickson is as active as any market in the region,” said Condon. “Not only is it one of the strongest submarkets in the Puget Sound region, it rivals any submarket on the West Coast.”
“Many corporate tenants are now calling Frederickson home because of its great surrounding labor force and the number of high-quality facilities located there,” added McGregor. “We expect momentum to continue in this area and for this project to be highly successful.”
About Colliers International Group Inc. Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
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