Steel Peak has acquired an industrial outdoor storage (IOS) property located at 1031 4th Avenue North in Kent, Washington, for $9 million.
This is Steel Peak’s fourth IOS property acquisition in the Seattle area in the past 12 months and 15th overall. Will Schmidt of CBRE represented Steel Peak in its acquisition.
“This acquisition checks a lot of the boxes we look for in IOS,” said Blake Rodgers, Principal at Steel Peak. “The property sits in a dense, infill industrial location in the Kent Valley with direct visibility from Highway 167, making it a site that would be extremely difficult to replicate today.”
1031 4th Avenue North is ideally located, enabling efficient north-south freight movement throughout the Puget Sound region. The 3.09-acre property includes a 23,515-square-foot industrial building featuring five oversized grade-level doors, seven bridge cranes, approximately 2,500 square feet of office space, and a fully paved and fenced yard.
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