April 30, 2019
TypeDeal, Press Release
Bridge Development Partners, LLC announced today the acquisition of a 4.73-acre property at 26524 79th Avenue in Kent, Wash., where it will soon begin development on Bridge Point Kent 100.
Purchased from an independent seller, the property will be home to a newly constructed, state-of-the-art industrial facility totaling 97,522 square feet. The building will include 30-foot clear ceiling heights, 14 dock-high and 2 grade-level doors, flexible size configurations, and an ESFR 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.
Bridge Point Kent 100 is in close proximity to Seattle, Bellevue, and Tacoma by way of Highway 167 and I-5 – the latter being just 1.5 miles away. The building is expected to be delivered in Q1 2020.
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.
“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.”
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, it has announced plans for Bridge Point Lacey in Seattle, Bridge Point Sumner 60 in Sumner, Washington, and Bridge Point I-5 in Portland, Oregon.