4.56-Acre Value-Add Industrial Outdoor Storage
- Acquired July 2019.
- 4.56-acre site with two Class B industrial buildings totaling 85,000 SF. Property was purchased from former owner with short-term leaseback.
- Built in 1941, the site benefits from heavy timber interiors, clerestory sash windows that will be positioned as best in class creative industrial space and high visibility from West Seattle Bridge and Interstate 99. Additionally, zoned IG1-85 currently allows for development today up to 85 feet.
- Leased to bus transit service provider TransWest in December 2020. Construction underway to deliver outdoor yard on site including demolition of all existing structures, new paving, lighting, fencing and completion of environmental cleanup of legacy site issue. The tenant also leased adjacent asset 3411 First Ave S and will keep those buildings using that as bus maintenance building and office/driver amenity location.
- Located within SODO submarket within City of Seattle just north of the West Seattle bridge and close proximity to I-99 & I-5, Port of Seattle and downtown Seattle. Long-term the site is well positioned for continued last mile delivery or redevelopment opportunities.