SEATTLE-Rreef, the real estate investment management business of Deutsche Bank’s asset management division has acquired the Kent Valley Industrial Portfolio in Kent and Tukwila, WA on behalf of an institutional client. The property was purchased from the James Campbell Co.
The suburban Seattle portfolio consists of a total of 11 warehouse and distribution buildings totaling 940,654 square feet. Eight of the buildings are located in the Southcenter South Industrial Park in Tukwila and three are located in the Greenriver Corporate Park in Kent.
The portfolio is currently 100% leased. Although Deutsche Bank tells GlobeSt.com that it cannot disclose the purchase price, GlobeSt.com learns that six of the 11 buildings shed for approximately $50 million.
The unidentified source tells GlobeSt.com that: 20410-20416 72nd Ave. S. in Kent, WA went for $16.2 million; 18201-18289 Olympic Ave. S. in Tukwila, WA sold for $9.4 million; 18200-18290 Olympic Ave. S. went for $6 million; 18401-18449 Cascade Ave. S. shed for $6 million; 18375-18393 Cascade Ave. S. sold for $7 million; and 6540 Glacier St. S. sold for $5.6 million.
The properties are located within the northern portion of the Kent Valley providing access to major transportation arteries within the Puget Sound region. The properties are within a 22 mile radius of the region’s major international air and sea ports including, SeaTac International Airport, the Port of Seattle and the Port of Tacoma.
Rreef has $52.9 billion in assets under management worldwide as of 30 September 2010.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
