First Industrial Spends $6.1MM for Land in Lakewood, Plans 129,000 SQFT Development

The Registry Puget Sound   |   Jon Peterson

Posted In — News & Press | In the News

As the industrial sector looks as perhaps one of the most robust ones to come out of the current economic and medical crisis, institutional investors have been looking at opportunities across the country to deploy investment funds in order to grown their portfolios. One of them, Chicago-based First Industrial Realty Trust, has done so earlier this month when it acquired a 6.6-acre site in Lakewood located at 10920 Steele Street South for a new development project planned to expand the company’s presence in the Pierce County industrial market. The purchase price was $6.1 million, as stated by the public REIT in its second quarter 2020 earnings report.

For the full story, go to The Registry Puget Sound.

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