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March 05, 2014

DCT Industrial Purchases Kent Property for $3.6M

CoStar Group

George Robinson

DCT Industrial, a Denver-based institutional investment firm, acquired the industrial building at 8041 S. 228th St. in Kent, WA from Miles Sand & Gravel Co. for $3.57 million, or about $80 per square foot.

DCT Kent 228, formerly known as Miles Park, is a 44,866-square-foot manufacturing building constructed in 1989 on 2.5 acres in the Kent Valley South Industrial submarket of King County. It features four drive-ins, building signage and a fenced lot. The asset was two-thirds occupied at the time of the sale.

Mike Newton and Matt Wood at Kidder Mathews represented both the buyer and the seller in the sale.

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