Fortress Investment purchased a 7-acre industrial property in Auburn, Washington, for just over $22 million in an off-market deal. The sale closed today and was brokered exclusively by Kidder Mathews’ Senior Vice Presidents Matt Murray and Matt McLennan, CCIM. The seller was MK Holdings LLC. The land includes a 24,000-square-foot building at 904 W. Main Street and is the current location of Utility Trailer Sales of Washington Co.
The property is adjacent to Washington State Route 167 in one of the strongest industrial markets in the county, with increasing rates for industrial buildings and yards.
“This is a rare low coverage terminal site with a great location in King County’s Auburn industrial submarket. It is well situated between Ports of Seattle and Tacoma,” said 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 64 million square feet of space, and conducts over 1,800 appraisals annually. For more information, visit kidder.com.