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November 08, 2011

Kent Warehouse and Labeling Leases 240,000 Square Feet in Northwest Corporate Park - Kent, Kent Valley's Largest Industrial Complex

Seattle, WA - Kidder Mathews and Principal Real Estate Investors announce they have leased 240,000 square feet of prime warehouse space in the Northwest Corporate Park - Kent complex to Kent Warehouse and Labeling, a leader in logistics, packaging, warehousing and labeling services. Matt Wood, Thad Mallory and Tony Miltenberger of Kidder Mathews represented the landlord, Principal Real Estate Investors.

Originally developed by the Jack A. Benaroya Company, Northwest Corporate Park - Kent consists of 19 buildings totaling 2.76 million square feet in the bustling economic center of Kent Valley. The available space, located off East Valley highway between 198th Street and South 212th Street, features 30-foot clear height, rail service and convenient access to nearby I-5, I-405 and SR-167 freeways. Kidder Mathews is in the process of leasing Principal's 3.76 million square foot portfolio, with Kent Warehouse and Labeling being the largest new tenant to date. Available spaces range from 1,000 square feet up to 300,000 square feet.

About Kidder Mathews
Kidder Mathews is one of the largest independently owned commercial real estate firms on the West Coast, with over 400 real estate professionals and staff in 9 offices in Washington, Oregon, and California. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, sustainability, and project and construction management services for all property types. The firm performs $2.2 billion in transactions, manages over 23 million square feet of space, and conducts 1,000 appraisals annually. For more information, go to www.kiddermathews.com.

About Principal Real Estate Investors, LLC
Principal Real Estate Investors is the fourth largest institutional real estate manager in the United States based on tax-exempt assets under management[1] and manages or subadvises $35.4 billion in commercial real estate assets. The firm's real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.

About the Principal Financial Group
The Principal Financial Group® (The Principal®)[2] is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $318.8 billion in assets under management[3] and serves some 19.1 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG.

[1]
The 4th largest manager of real estate, ranked by U.S. institutional tax-exempt real estate assets, out of 87 managers profiled, as of June 30, 2010 PENSIONS & INVESTMENTS, September 10, 2010.

[2]
"The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

[3]
As of Dec. 31, 2010.

For inquiries, please contact Karen Benoit at 206.296.9600 or email: kbenoit@kiddermathews.com

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