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Tacoma Supply Chain Center Sells for $115M

Tacoma Supply Chain Center

Sale Demonstrates Strength of Pierce County Industrial Markets

Seattle, WA – July, 22, 2021 – Colliers’ industrial team of Bill Condon and Matt McGregor today announced the sale of Tacoma Supply Chain Center, a brand new, state-of-the-art, Class A industrial complex in Frederickson, WA. Condon and McGregor represented the buyer, Dalfen Industrial, in the transaction which closed this week for approximately $115M.

Completed in June of 2021, Tacoma Supply Chain Center features three buildings totaling 711,855 square feet. The property offers a mix of dock height and grade level loading and can accommodate parking for more than 300 trailers. 

This sale highlights the strength of Pierce County’s industrial markets, which have been garnering increased demand and development in recent years. Frederickson, in particular, offers excellent proximity to the Port of Tacoma, as well as major trucking routes like State Route 512 and Interstate 5. 

 “Frederickson is as active as any market in the region,” said Condon. “Not only is it one of the strongest submarkets in the Puget Sound region, it rivals any submarket on the West Coast.”

“Many corporate tenants are now calling Frederickson home because of its great surrounding labor force and the number of high-quality facilities located there,” added McGregor. “We expect momentum to continue in this area and for this project to be highly successful.”

About Colliers International Group Inc. Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.


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Bill Condon

Executive Vice President

Seattle

Bill Condon serves as an industrial specialist focused on representing tenants across the United States and abroad, in addition to overseeing Colliers’ Seattle office. His focus on representing corporate clients in multiple markets has allowed him to develop a high-level corporate real estate strategy for his clients that is unparalleled in the market.

Bill has experience negotiating a variety of complex real estate transactions including warehousing, corporate headquarters, manufacturing plants, and national distribution and logistics facilities. His passion for his clients and his work, along with his attention to detail and unique talent for continually creating value for his clients, has been key to his ability to lead the market in large transactions. Bill’s extensive market knowledge and commitment to achieve and exceed objectives make him invaluable to his clients and his ability to routinely “over-service” them is one of the reasons he continually outperforms his competition.

 

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Matt McGregor

Executive Vice President

Seattle

Matt specializes in the representation of industrial tenants and landlords in the Seattle area and is a market leader in the dispositions and acquisitions of both owner/user and investment sales. Matt has developed long-term relationships with many clients due to his extensive knowledge of the market and his dedication, professionalism, and commitment to his clients. Having been involved in hundreds of transactions totaling more than 61 million square feet throughout his career, including leasing up to 100% occupancy of large industrial portfolios for Landlords including: Prologis, Dalfen Industrial, Principal Global Investors, American Realty Advisors, Bertch Capital, and Clarion Partners. Matt approaches his work enthusiastically every day and holds himself to the highest level of accountability to his clients. He has unparalleled experience in industrial commercial real estate, including ware-housing, corporate headquarters, manufacturing plants, distribution and logistics facilities.

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