EQT Exeter Real Estate Income Trust (EQRT) announced its fourth acquisition, purchasing 2871 S. 102nd Street in Tukwila, Wash., for $81.5 million.
The 202,464-square-foot property is fully occupied by a multinational online retailer with an investment-grade credit rating. The last-mile industrial building was completed in 2021 and features rare class A building specifications for its infill South Seattle location.
The property's strategic location offers proximate access to Seattle's growing population, with nearly 4 million people located within a one-hour drive and an industrial labor force of over 200,000 within a 45-minute drive. Its location also provides connectivity to customers and suppliers via a diverse network of closely located interstate freeways, the Port of Seattle and Seattle International Airport. Interstate 5 borders the South Seattle submarket and runs from Vancouver, B.C., to Mexico, providing access to major population centers along the West Coast.
