Deal Announcement: LSI Logistic Service Solutions Leases 170,592 SF at Puyallup West D.C.
March 17, 2017
Neil Walter Company is pleased to announce the recent leasing of Puyallup West Distribution Center. LSI Logistic Service Solutions will be relocating to the newly constructed 170,592 sf warehouse beginning July 1, 2017. The property was developed by Avenue 55 Development with construction wrapping up in 2016, and is now owned by Cabot Properties. Scott Price and Joel Jones of Neil Walter Company represented the Landlord in marketing the property for lease. Kermit Jorgensen and Fletcher Farrar of Neil Walter Company represented LSI and negotiated a nine-year lease on their behalf. Tenant improvements are underway to provide LSI with a single tenant, fully fenced and secured, state of the art distribution facility located just minutes from the Port of Tacoma.
LSI provides third party logistics, warehousing, and storage services to clients in the Pacific Northwest in addition to a range of value-add material handling services. Their new location was chosen, after an extensive market survey, to better serve their existing customer base and to take advantage of the increasing cargo volume moving through the Port of Tacoma. You can learn more about the company at their website.
Deal Announcement: 4337 Auburn Way N, Auburn
October 25, 2016
Neil Walter Company is proud to announce the recently closed purchase of a 7,800 square foot commercial building in Auburn! Fletcher Farrar of Neil Walter Company represented the buyer, Country Square Western Wear, in the purchase of the former Bent Bike property located at 4337 Auburn Way North. The building is positioned on just over 2 acres of C-3 zoned land with prominent visibility and monument signage. The sale closed on October 11th for a final price $200,000 under the asking price and $150,000 under what the property appraised for. Country Square Western Wear is now in the process of readying the building for a grand opening celebration. Be sure to stop in on November 11th to get a first look at the long time Auburn retailer’s new home!
For more information regarding this transaction, or to find out what other opportunities are available in the market, please contact Fletcher at 206.787.1469. If you own property and would like to know what it is currently worth, Fletcher is happy to offer a free opinion of value using the same methods employed by commercial appraisers.
Deal Announcement: 8206 S 192nd St, Kent
October 25, 2016
Neil Walter Company is pleased to announce the sale of the former Tri-Tec Manufacturing facility located at 8206 South 192nd Street in Kent, WA. The 9,250 SF facility sits on 0.91 acres of M-2 zoned industrial land, and includes a fully fenced and secured storage yard of approximately 13,000 SF. The property was listed for less than one week prior to going under contract very near its asking price. The sales price was $1,275,000 ($137.84/SF), and the buyer intends to occupy the building within the next 6-8 months. Kermit Jorgensen and Fletcher Farrar, both of Neil Walter Company, represented the Seller and Buyer respectively in this transaction. For more information about this sale, or to speak with one of the involved brokers about your own property or requirement, please contact us.
New Housing Project in Gig Harbor
September 9, 2016
We are pleased to be assisting The Cheney Foundation on the One Harbor Point project in Gig Harbor. More information can be found on the One Harbor Point website.
Recent Building Sale in South Park
June 15, 2016
Shane Hoey represented the buyer of the Global Fab warehouse building in South Park. The building is 11,294 square feet, and sold for $1,495,000 ($132/SF). The buyer was a company out of Ballard that had been looking to purchase a property for the last couple of years. Due to the lack of available properties for sale in the Ballard area, he chose to broaden his search and look south. There were multiple offers on the property, but my client was selected as the purchaser.
SOLD! True Compass Building in Auburn
June 15, 2016
The sale of the property located at 201 G St SW in Auburn closed on May 27, 2016 for $420,000 ($143.84/sf). The fully paved and fenced property included 2,920 square feet of building area (960 sf office), a small covered outdoor work area, and a secured outside storage area. There was no deferred maintenance, nor any other extenuating circumstances. Kermit Jorgensen and Fletcher Farrar facilitated the deal.
SOLD! Georgetown Industrial Building
January 13, 2016
Kashmir Holdings LLC, which is controlled by the same principals as Georgetown Brewing, recently purchased the property located at 5212 6th Ave South directly across the street from their existing brewery. Located in the Georgetown neighborhood of South Seattle, the 6,126 square foot property is currently occupied by Metal Solutions, who has multiple years remaining on the lease. The property sold as an off-market deal for $1,010,000, closed on January 12, 2016, and was brokered by Kevin Skillestad of Neil Walter Company. For more information on this transaction, please contact Kevin Skillestad at 206.787.1800.
SOLD! Retail Building in Seattle
January 12, 2016
Neil Walter Company recently represented the seller in the sale of a 1,830 square foot retail building on 4th Avenue South in SODO. Kevin Skillestad and Shane Hoey received the listing on the building, which produced multiple offers within the first week of commencing marketing. The transaction closed within 60 days of being brought to market and was sold at the full asking price of $525,000. The new owner is a local contractor and they will be converting the property into their office.
SOLD! Manufacturing Building in Kent
January 12, 2016
Neil Walter Company recently had the privilege of representing both the buyer and seller in the sale of a 77,000 square foot manufacturing facility in Kent. Jim Honan and Griffin Day received the listing on the Custom Bilt Metals building after a competing brokerage had unsuccessfully attempted to the sell the property for the previous two years. Within sixty days of receiving the listing, Shane Hoey and Mike Roy brought the buyer of the property, Bruce Matson Company, who paid the full asking price of $4,850,000 for the facility.
Bruce Matson Company is a Hawaii-based specialty contractor, supplier, and manufacturer providing single source responsibility for residential and commercial casework, architectural doors, finish carpentry, and specialty installations. Their pending relocation from their existing Ship Canal location nearly triples their production area. In addition to representing Bruce Matson in the sale, Neil Walter Company also will be backfilling their existing facility with a new tenant with no vacancy downtime.