CenterPoint Properties buys distribution facility in Kent, Wash.

CenterPoint Properties has acquired a distribution facility at 19826 Russell Road in Kent, Wash. The asset is located in the highly coveted Kent Valley, at the epicenter of Seattle’s industrial market.

The 240,106-square-foot facility covers just 31 percent of the 17.58-acre property. The building has undeveloped land behind it, providing future development flexibility or an opportunity to expand the on-site parking.

The shallow-bay facility is equipped with 24-foot to 32-foot clear heights, 88 dock-high doors and 176 auto stalls. With immediate access to the I-5, the site is just 14 miles from the Port of Seattle, 20 miles from the Port of Tacoma, and is less than 10 miles from King County Airport and Seattle-Tacoma International Airport.

“The North Kent Valley is the proverbial bellwether for the Puget Sound industrial market,” said Ryan Dunlap, senior vice president of investments. “The combination of infrastructure, planning and proximity have positi