Realterm acquires well-located industrial outdoor storage facility in Kent, Washington

Realterm, an independent global investment manager focused on the transportation industry, announced today the acquisition of 19929 77th Avenue S, an industrial outdoor storage (IOS) facility in Kent, WA, one of Seattle’s top industrial submarkets.

The 5.4-acre industrial facility features a 12,640-square-foot shop building and a 1,517-square-foot office building. Key operational features include four drive-through doors including two dedicated drive through bays, three drive-through wash bays, one point of ingress and egress, an on-site truck scale, and direct rail access.

Realterm plans comprehensive capital improvements to enhance the facility's functionality and appeal, including a complete shop roof replacement, upgraded electrical and lighting systems, enhanced perimeter fencing, new asphalt paving throughout the site, and the installation of a modern security system. The property is currently vacant and available for lease.

“The Seattle-Tacoma region continues to experience robust demand for industrial outdoor storage and high flow through industrial facilities but faces a critical shortage of developable land new for construction,” said Jack Falk, Associate Vice President, Investments, Realterm. “These compelling market fundamentals present exceptional investment opportunities as we continue to target opportunities in key logistics markets.”

Located in the Kent Valley submarket, the site offers unparalleled access to major transportation hubs including the Seattle-Tacoma Airport, the Port of Seattle, and the Port of Tacoma which are all within a 25-minute drive.

“This property exemplifies the transportation-advantaged industrial facilities we seek,” said Ed Brickley, Managing Director, Senior Fund Manager, Realterm. “Situated with convenient access to key roadways and offering unmatched connectivity to two major ports and the Seattle MSA, this site delivers the operational advantages that make it an excellent addition to our portfolio.”

This acquisition represents Realterm's 10th high flow through (HFT) industrial property in the greater Seattle-Tacoma region, further strengthening the company's presence in this market.