EverWest Real Estate Partners, on behalf of a discretionary separate account with an institutional investor, is pleased to announce the acquisition of a 3.22 acre site located at the corner of West Valley Highway and 212th Street in Kent, WA . The site will support the speculative development of a 63,546 square foot state-of-the-art industrial building in the heart of the Kent Valley Industrial market. Construction will commence shortly with a planned completion in the 1st quarter of 2016. The site offers strong visibility along the heavily traveled West Valley Highway. Additionally, this site is located 5 miles southeast of the Seattle Tacoma Airport, 16 miles south of the Port of Seattle and 18 miles north of the Port of Tacoma. The local Panattoni team will serve as the development partner and Matt O'Brien and Casey Trees from JLL will service as the leasing agents.
Ryan Madson, Managing Director, comments, "We are excited to make our first investment in the Pacific Northwest. The Kent Valley Industrial market is one of the strongest industrial markets in the country and given the current market fundamentals we think the timing is right to deliver new product to the market."