Bixby Land Company Acquires The Steele Building in Seattle, Wash.
(firmenpresse) - NEWPORT BEACH, CA and SEATTLE, WA -- (Marketwired) -- 07/14/16 -- , a Newport Beach, California-based investor, has made another industrial investment in the Pacific Northwest with the purchase of The Steele Building, a newly-constructed warehouse and distribution building in the Kent Valley sub-market of Seattle.
Bixby purchased the 206,463-square-foot building from Panattoni Development Company for $24 million, or $116 per square foot. Located at 1565 Fryer Avenue in Sumner, Wash., the building was completed earlier this year and is 100 percent leased to Dometic Corporation and Marine View Beverage.
"Bixby Land is firmly committed to expanding its footprint in the Seattle market," said , senior vice president of investments at Bixby Land Company. "This is our third industrial acquisition in the last six months in Seattle, and we are looking to add to our investment portfolio there."
The acquisition was attractive to Bixby due to the location in Kent Valley, where the industrial market is five percent vacant and land prices are on the rise due to the shrinking availability of developable industrial sites. Separately, the building is in the process of achieving LEED Silver certification for superior energy efficiency standards and the use of eco-friendly building materials, another compelling case for Bixby''s investment.
"This purchase furthers our investment activities in core industrial properties in primary West Coast markets, Arizona and Nevada," added Severson. Bixby seeks leased, institutional grade industrial investments in the $5 million to $50 million range.
Brett Hartzell and Taylor Odegard at CBRE represented both parties in the transaction.
Bixby Land Company is a leading commercial real estate operator and investment manager with a portfolio of industrial, office and R&D properties of approximately $1 billion. The company invests in core industrial properties and develops office and R&D properties, all in select Western U.S. markets. For 120 years, Bixby Land Company has been committed to adding value for its investors and shareholders. .
Image Available:
Jillian Hunt
714-263-8743
Randy Hall
714-263-8723
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 14.07.2016 - 08:00 Uhr
Sprache: Deutsch
News-ID 1447006
Anzahl Zeichen: 4721
contact information:
Contact person:
Town:
NEWPORT BEACH, CA and SEATTLE, WA
Phone:
Kategorie:
Commercial Real Estate
Typ of Press Release:
type of sending:
Date of sending:
Anmerkungen:
Diese Pressemitteilung wurde bisher 217 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Bixby Land Company Acquires The Steele Building in Seattle, Wash.
"
steht unter der journalistisch-redaktionellen Verantwortung von
Bixby Land Company (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
