September 16, 2019
TypeDeal, Press Release
Bridge Development Partners, LLC announced today the acquisition of a 3.81-acre property at 3113 142nd Avenue East in Sumner, Washington, which will serve as the future site of Bridge Point Sumner South.
The acquired acreage was formerly two smaller properties – one sold by a private seller and the other sold by a homeowner who utilized the property as a small blueberry farm – which will be combined into a single lot to house Bridge Point Sumner South. The building, expected to be delivered in Q3 2020, will boast 82,591 square feet of space, divisible down to 30,000 square feet. Other features will include LED interior and exterior wall pack lighting, ESFR fire protection, 32-foot clear ceiling heights, two drive-in doors, fourteen exterior docks, a 125-foot truck court and parking for 63 cars.
The acquisition further expands Bridge’s Seattle market portfolio, and marks its second venture in Sumner this year. In May, the company announced its purchase of a 2.92-acre property that will serve as home to Bridge Point Sumner 60, a 64,574-square foot industrial facility.
Both projects will serve as ideal locations for the many small to medium-sized users in Seattle’s thriving industrial market.
“The Bridge Point Sumner South property is strategically located, essentially straddling two highly active submarkets – the South Sound and the Kent Valley,” said Justin Carlucci, Bridge’s Northwest Regional Partner. “This will provide unparalleled opportunities, and create an excellent environment for tenants looking to optimize both their overall market reach and their shipping capabilities with the most modern small to medium size warehouse offering available.”
Bridge Point Sumner South is positioned to have immediate access to highways 167 and I-5, as well as the Port of Tacoma, which are huge demand drivers for the Seattle industrial market.
Thad Mallory, Taylor Huff, Cam Warren, and Balke Bentz of Newmark Knight Frank brokered the deal for Bridge and will also serve as leasing agents for the project.
Bridge Point Sumner South is the fourth property Bridge has closed on in the Seattle market over the last year, and the fifth property that it has acquired in the Pacific Northwest. Its other projects are Bridge Point Lacey, Bridge Point Kent 100, and Bridge Point Sumner 60 in Seattle, and Bridge Point I-5 in Portland, Oregon.