Realterm acquires 273,816 SF final mile warehouse in Tacoma, Washington

Realterm announced that it has acquired Tacoma Gateway II, a newly built Class A final mile distribution facility. Totaling 273,816 square feet, the warehouse is located at 12005 Steele St. South, Tacoma, Wash., and is fully leased by a single tenant. In addition to the warehouse space, the asset features 2,300 square feet of office space, 61 loading positions, 152 parking spots and 217 trailer stalls. It sits on a 19.72-acre site and includes 4.77 acres of fenced space for future development.

“With a total of 4.3 million residents in the Puget Sound region which continues to grow , this new warehouse is advantageously located and will serve as a valuable addition to Realterm’s portfolio,” said Blair Duncan, Associate Vice President, West Region Acquisitions, Realterm.

Tacoma Gateway II offers immediate access to I-5 and highway 512. It is in close proximity to the Port of Tacoma and the Port of Seattle which link Asian markets to the United States and create a vital link to Canada and Alaska. SeaTac International Airport is 32 miles from the facility.

“We’re acquiring an asset that provides an excellent level of high flow-through functionality and enhances our portfolio,” said Stephen Panos, Senior Vice President, Fund Manager, Realterm. “Our robust network of well-located final mile warehouses in strong markets, like the Puget Sound region, are what set us apart from the competition and enable us to deliver value and continually meet the needs of customers and suppliers alike.”

CBRE represented Realterm and facilitated the sale.

Highlights of the property include:

• Square feet: 273,816 SF
  
• Land area: 19.72 acres
  
• Loading positions: 61
  
• Access: I-5 and Highway 512