Sagard Real Estate has acquired 1100 Andover Park West, a 133,750-square-foot industrial property in Tukwila, Washington, expanding the investment manager’s presence in the greater Seattle industrial market. Financial terms of the acquisition were not announced.
The property sits on approximately 5.6 acres at the northern end of Kent Valley, one of the Puget Sound region’s established infill industrial corridors.
Its location provides access to Interstate 5, Interstate 405 and State Route 167, along with Seattle-Tacoma International Airport and the Port of Seattle.
The property is fully leased to a national wholesale distributor that has operated at the location for more than 25 years.
The building features 24-foot clear heights, 16 dock-high loading doors and four points of ingress and egress.
Sagard said the configuration gives the facility flexibility for warehouse, distribution and other industrial uses over time.
The acquisition reflects the company’s strategy of investing in functional industrial properties located in supply-constrained infill markets where new development opportunities are limited.
Sagard Real Estate provides portfolio management, acquisitions, asset management, development and property-management services across the United States.
The firm has approximately $6.1 billion of assets under management.
Its parent company, Sagard, is a global multi-strategy alternative asset manager with more than $46 billion of pro forma assets under management across venture capital, private equity, private credit and real estate.
KEY QUOTES:
“1100 Andover Park West is a prime example of the functional, well-located properties we continue to target in infill industrial markets.”
Tom Stover, Managing Director of Acquisitions at Sagard Real Estate
