KENT, WA-KTR Capital Partners says an affiliate has closed on the acquisition of Northwest Corporate Park a 19-building, 125-acre campus located in Kent.
The 2.7 million square-foot park features a wide range of building sizes and functional attributes, including dock-high and grade-level loading, 22'-30' clear heights, excellent access and freeway visibility, as well as ample car parking and active BNSF rail service. The project is currently 80% leased.
“This was a rare opportunity to acquire a well-established business park in the heart of the highly desirable Kent Valley submarket,” commented Phil Prassas, SVP of Investments for KTR. “We are buying the park at an attractive basis below replacement cost, which affords us the opportunity to rebrand and reposition the project through significant cosmetic and structural improvements that will be completed immediately.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
