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June 15, 2017

Panattoni Buys 21.83-Acre Industrial Development Site in Lakewood, WA

Seattle, Wash. (June 15, 2017) - Lakewood Tacoma Gateway, 21.83-acre industrial development site in Lakewood, Washington has been purchased by Panattoni Development Company. The seller, YKC, LLC, is a private investor. Kidder Mathews' commercial real estate brokers, Vanessa Herzog, Holly Yang, Sophia Wong, and Michelle Yeh, represented both parties in the transaction.

The property, located at 14801 Spring Street SW, is 10 miles from the Port of Tacoma along the I-5 corridor. The site offers the capability for a large, free standing industrial warehouse, within minutes of a new I-5 interchange. Panattoni will immediately start construction of a 467,526 square foot, 36' clear height Class A warehouse, which will also offer 92 on site trailer parking stalls.

The City of Lakewood was instrumental in the streamlined processing of the site development permits. "We anticipate the City of Lakewood will be a strong partner in attracting businesses to this project, and any future projects in this area," said Herzog, a senior vice president with Kidder Mathews.

Once the project is complete, Herzog and Thad Mallory, a senior vice president with Kidder Mathews, will represent Panattoni in the leasing of the warehouse.

Other team members included Dale Couture with Tahoma Design Group for Architecture, Civil by AHBL Engineering, and General Contractor is Alston Construction.

Bart Brynestad, local partner at Panattoni, says, "We are excited about this new project and appreciate Kidder Mathews efforts in this transaction. This project's accessibility to I-5 and the Port of Tacoma is unmatched in the market."

About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with nearly 700 real estate professionals and staff in 20 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $5.6 billion in transactions, manages over 46 million square feet of space, and conducts 1,300 appraisals annually.

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