Matthews™ Closes $22M Record-Breaking Sale of Northwest Industrial Building

Tacoma, WA – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, brokered the sale of a Builder’s FirstSource property located at 1331 208th St E, Spanaway, WA. The off-market transaction closed at $22,000,000 and at a 4.85 percent cap rate, setting an all-time national cap rate record for Builders FirstSource facilities. Senior Associate Brett Davis and First Vice President and Senior Director Alexander Harrold handled the transaction.

 

Matthews™ represented the seller who was motivated to sell due to the current high demand for industrial assets, allowing them to achieve an incredible price for their property. The facility included a brand-new Truss Plant set to be completed in Spring 2022, further driving value.

 

“This facility was attractive to industrial investors nationwide due to the long-term lease in place with a Fortune 500 company,” Davis said. “This site is also located on the outskirts of a strong industrial park leased to national tenants.”

 

The buyer received a long-term investment in a growing industrial market leased to a strong national tenant. The institutional buyer acquired the property to add to their growing industrial portfolio.

 

“The sale further proves the strong interest for long-term industrial investments nationwide,” Harrold said. “By sourcing a qualified and motivated buyer we were able to execute the deal at a record cap rate and above-market price.”

 

For more information on this listing or to contact Brett Davis and Alexander Harrold, please visit www.matthews.com. Sold in conjunction with Broker of Record Benjamin Widmyer, Lic Number 21183 (WA).

 

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 13 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.