Chicago-based Bridge Development Partners has purchased a 4.7-acre site in Kent to develop a state-of-the-art industrial facility totaling 97,522 square feet.
Purchased from an independent seller for an undisclosed price, the property will feature a building with 30-foot clear ceiling heights, 14 dock-high and two grade-level doors, flexible size configurations and an ESFR (Early Suppression, Fast Response) sprinkler system.
Bridge Point Kent 100 will be one of Kent Valley’s few facilities with a footprint of less than 100,000 square feet, with space divisible down to 30,000 square feet to accommodate a variety of smaller tenants.
“Seattle is one of the top industrial markets in the country, as well as one of the most supply-constrained,” said Justin Carlucci, partner, Northwest region at Bridge. “Its thriving tech sector is also fueling strong job creation and population growth throughout the metropolitan area. This makes it a prime location for Bridge to build a modern facility like Bridge Point Kent 100, and continue growing our regional portfolio to meet the surging demand for top-of-the-line industrial spaces.”
Steve Brunette, Shawn Childs and Andrew Stark of CBRE brokered the deal for Bridge. Childs and Stark will serve as leasing agents for the property.
Bridge Point Kent 100 is the latest in a series of acquisitions and developments for Bridge in the Seattle area and the Pacific Northwest. Within the last eight months, Bridge also has announced plans for Bridge Point Lacey in Seattle, Bridge Point Sumner 60 in Sumner and Bridge Point I-5 in Portland.
Bridge Development Partners, LLC (bridgedev.com) is a privately owned firm that focuses on the acquisition and development of Class A industrial real estate in the supply constrained core industrial markets of Chicago, South Florida, Northern New Jersey, Southern California, the Bay Area and Seattle.
Since its inception in 2000, Bridge has successfully acquired and developed more than 33 million square feet of industrial buildings/projects valued at more than $5.2 billion. Currently, Bridge has a strategic joint venture with investment partnerships managed by Banner Oak Capital Partners, L.P., a Dallas-based investment advisor.