PCCP, Panattoni JV on Tacoma Gateway
Monday, June 5th 2017
Los Angeles-based PCCP acquired Tacoma Gateway, a 21.7-acre site in Lakewood, WA in joint venture with Newport Beach, CA-based Panattoni Development Co. for a reported $7.3 million. The 467,526-square-foot warehouse distribution facility is fully-approved, and development is underway with completion anticipated in February 2018.
PCCP’s Dorian Farhang says, “We believe Tacoma Gateway will attract strong interest from large tenants in the area seeking a well-located, quality distribution facility.”
Tacoma Gateway is a 36-foot clear height, cross-docked warehouse, featuring excess trailer parking and institutional quality finishes. The project is located less than a mile off Interstate-5, roughly 35 miles south of Seattle’s CBD, and 12 miles south of the Port of Tacoma.