Leading real estate operating company and investment manager continues expansion in the Pacific Northwest with third facility in the Kent Valley
Bellevue, W.A (July 20, 2023) – Bridge Industrial (“Bridge”), a privately-owned, vertically integrated real estate operating company and investment manager, announced today the acquisition of a ±13 acre site located at 7730 South 202nd Street in Kent, Wash., which will serve as the future home of ‘Bridge Point Kent 180’ — a 180,000 square-foot, newly constructed Class A industrial facility. Bridge acquired the site from a private seller.
The site, formerly occupied by an aluminum smelting plant, is home to one existing building and requires significant environmental remediation from nearly 40 years of contamination. Bridge plans to demolish this structure before conducting extensive cleanup across the site. It will break ground on Bridge Point Kent 180 in Q1 of 2024, and is expected to deliver it by Q1 2025.
Taylor Hoff and Thad Mallory from Newmark represented the seller in the transaction and will also serve as Bridge’s leasing agents for the project.
“Transforming this blighted, unsafe, and unproductive piece of land into an active, healthy job site is a key part of Bridge’s core strategy — and we are eager to continue our stewardship of both an improved environment and a strong local economy,” said Justin Carlucci, Partner, Northwest Region at Bridge. “Bridge Point Kent 180’s location and design will cater to a large variety of modern, cutting-edge tenants looking to enter this submarket, such as e-commerce, logistics, and cold storage users. New, state-of-the-art industrial facilities exceeding 150,000 square feet are in high demand and we look forward to delivering a high-value warehouse.”
Upon completion, the facility will feature 36-foot clear heights; 27 dock high doors; three grade level doors; 3,000 amps of powering capability; 12 future positions for trailer parking; and 219 stalls for car parking. Additionally, the building’s design will be in accordance with LEED Certified standards.
Bridge Point Kent 180 is the latest in a series of Bridge acquisitions and developments in the Seattle region, following Bridge Point Kent 300 and Bridge Point Kent 100. The firm preleased 50,000 square feet of Bridge Point Kent 300 — two state-of-the-art facilities totaling 309,028 square feet — ahead of its completion in Q2 of 2022, and leased the remainder of the space by Q4 of 2022.
Bridge continues to grow its presence in the Pacific Northwest region, having acquired over 8 million square feet of Class A industrial buildings across major markets in Washington and Oregon to date. Bridge continues to pursue opportunities to acquire and develop industrial properties in supply-constrained core infill markets to meet the strong market demand for sizable, modern facilities.