Panattoni, LaSalle Divest Pair of Puget Sound Industrial Assets for $90M

December 11, 2019

Black Creek Group acquired two Puget Sound industrial properties from a partnership of Panattoni Development Company, Inc. and LaSalle Investment Management, Inc. for an aggregate $87.6 million. The Class A assets include North Auburn Logistics in Auburn and The Reserve @ Woodinville in Woodinville.

North Auburn Logistics is located at 6607 South 287th St., and was completed earlier this year. The property, which totals nearly 265,000 square feet of warehouse space on 15.3 acres of land, is fully-leased to Raymond Handling Concepts Corporation, Holman Distribution, and BMC East, LLC.

Positioned at 15902 Woodinville-Redmond Rd. in Woodinville, The Reserve @ Woodinville measures just short of 159,000 square feet on 8.8 acres of land. It is also fully leased to four credit tenants: Black Raven Brewing Co., Mass. Electric Construction Co., Woodinville Custom Wines, and Paizo Inc.

Colliers International’s Bill Condon, Matt McGregor, Derek Heed and Gregg Riva handled the transaction.

Connect Daily Seattle Dennis Kaiser