June 6, 2018
Newport Beach, CA-based Panattoni Development has acquired two sites in Pacific, WA, and plans to develop a pair of logistics centers. The facilities will total nearly 300,000 square feet, and the sites are located west of Highway 167, north of Sumner and near Lake Tapps, which is roughly 30 miles south of Seattle.
One project, Pacific Logistics South, will encompass a 128,300-square-foot office and warehouse facility at 942-1045 Valentine Ave S.E. Pacific Logistics Industrial South LLC, an entity affiliated with Panattoni, acquired the nearly 6.7-acre site from R3 Investments LLC for $4.4 million. Andover Co.’s Jeff Crane and Brian Bruininks will handling the property leasing.
The second project, Pacific Logistics North, is a 163,091-square-foot building on a seven-acre site at 756 Valentine (pictured). The facility is expected be completed next year. Kidder Mathews’ Thad Mallory, Todd Clarke and Cam Warren are handling the leasing assignment.
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