Bridge Industrial Makes $64M Purchase in Seattle

Bridge Industrial has purchased a two-building industrial portfolio totaling 315,422 square feet in Kent, Wash. An entity affiliated with Link Logistics sold the assets for $64.2 million, according to King County public records.

The buyer also secured a $46.7 million originated by PGIM Real Estate, the same source shows. CBRE brokered the deal on behalf of the seller.

The portfolio includes two industrial buildings dubbed Kent Valley DC II and Kent Valley DC IV, at 6111 S. 228th St. and 6205 S. 231st St. Built between 1995 and 1997, the two properties feature clear heights between 24 and 30 feet, ample column spacing, sky lights, ESFR sprinkler systems, office build-out components, dock levers and bumpers and a total of 397 vehicle parking spots, according to CommercialEdge.

Located some 18 miles from downtown Seattle, Kent Valley DC II and Kent Valley DC IV occupy approximately 15 acres close to Interstate 5, as well as to state routes 167 and 516. Seattle-Tacoma International Airport is 5 miles away, while King County International Airport is 14 miles away.

CBRE Executive Vice Presidents Paige Morgan, Andrew Stark and Andrew Hitchcock, together with Vice Chairman Brett Hartzell, represented the seller.

Seattle attracting significant deals

As of November, Western industrial markets continued to occupy top positions for industrial investment volume, six of them recording year-to-date figures above $1 billion, according to a recent CommercialEdge report.

Sales in Seattle totaled $1 billion—more than double the 2023 amount. The market also posted one of the highest sale prices per square foot in the nation, at $208 per square foot, ranking sixth among the most priciest metros in the U.S.

Recent industrial deals in the area include EQT Exeter’s $81.5 million purchase of a 202,464-square-foot building in Tukwila, Wash. Amazon fully occupies the metro Seattle property.