Bridge Industrial purchased 19 parcels of Tacoma land for just over $158 million in a deal that closed this week. Kidder Mathews Executive Vice President Todd Clarke and Senior Vice President Matt Murray represented Bridge in the transaction. The seller was Texas-based BNSF Railway Company, the largest freight railroad network in North America.
The assembled land parcels total ±150 acres, located at 5802 S. Burlington Way in South Tacoma. The property is called Bridge Point Tacoma 2MM and will be developed in the third or fourth quarter of 2023. It is situated in a prime location just five miles from Port of Tacoma and within two miles of Highway 7, State Route 16, and Interstate 5. Speculative plans (subject to change) for the property include 2.5 million square feet of space in four buildings, along with around 20 acres of ancillary trailer parking and yard space.
Murray and Clarke will also be seeing the property through its development and have been retained for the leasing assignment. As part of their marketing strategy, and over the yearlong due diligence process, they started pre-marketing the property for lease back in March of this year: https://www.bridgepointtacoma2mm.com/
“This deal has been highly coveted for years, and it took a creative and flexible buyer like Bridge to make it happen. Kidder Mathews is excited to see this historic project come to fruition and is honored to be a part of it,” says Murray.
About Kidder Mathews
Kidder Mathews is the largest independent commercial real estate firm on the West Coast, with 900 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, asset services, consulting, project and construction management, and debt & equity finance services for all property types. The firm performs $8 billion in transactions, manages 70 million square feet of space, and conducts over 1,800 appraisals annually. For more information, visit kidder.com.
