Bridge Industrial buys $158m development site in Tacoma, Wash.

Bridge Industrial had purchased 19 parcels of land in Tacoma, Wash., for $158 million. The seller was Texas-based BNSF Railway Co., one of the largest freight railroad network in North America.

The assembled land parcels total approximately 150 acres, located at 5802 S. Burlington Way in South Tacoma. The property is called Bridge Point Tacoma 2MM and will be developed in third or fourth quarter 2023. It is situated in a prime location five miles from Port of Tacoma and within two miles of Highway 7, State Route 16 and Interstate 5. Speculative plans 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.