Utility Trailer Sales of Washington

Kidder Mathews assisted Utility Trailer Sales of Washington in acquiring a new property to grow its business while conducting a sale/leaseback of its existing facility at record land pricing.

Kidder Mathews was tasked with finding a new property for Utility Trailer Sales of Washington to develop and grow into. As part of the process, the client needed to gain contractual control of a new property in a prime Kent Valley industrial submarket, work through entitlements, then prior to close, successfully sell its existing location to fund the purchase of the new property.

A longtime operator in the region, Utility Trailer has had the pleasure of seeing its business grow over the years. Consequently, the company was faced with what has become a common trend in the market — growth beyond the confines of an existing facility. Changes in the business and industry demanded a larger site with more functionality to support further expansion.

Kidder Mathews was able to successfully identify a viable replacement property for the Auburn facility. Once under contract, the Kidder Mathews team worked with closely with the client to prepare the new property as a suitable replacement. They ran a sale process on the existing Auburn facility, yielding multiple offers, and eventually a buyer was selected. The transaction was closed before year-end at record pricing for the submarket — $71.18 per square foot and a record low cap rate of 3.65%.