Joint Venture Expands its Seattle Portfolio to Four Assets in SODO
LOS ANGELES, Oct. 11, 2021 /PRNewswire/ — Staley Point Capital (“Staley Point“), a value-add investor focused on infill industrial properties, today announced the acquisition of 2424 8th Ave S. (8th Ave.), a 90,000 square-foot warehouse in the South of Downtown (“SODO”) neighborhood of Seattle, WA, for $31.6 million, or $351 per square foot.
SODO is the most proximate industrial pocket to the Port of Seattle, the city’s central business district, and the significant population density in the Seattle and Bellevue neighborhoods. The fully leased asset has 42 dock high doors that are ideal for last-mile, high-throughput tenants. 8th Ave. is also within 10 miles of the region’s most significant distribution hubs, including SeaTac International Airport, and the BNSF and Union Pacific railway yards.
“8th Ave. is a highly functional asset in…