Elion Partners has acquired a 114,531-square-foot last-mile industrial asset located at 600 SW 10th Street in Renton, Wash., 13 miles south of the Port of Seattle and its commercial business district.
The $27.7 million acquisition is a part of a series of acquisitions the firm has planned for its last-mile portfolio aggregation strategy across key logistics markets, including Seattle, San Francisco and Southern California.
“The site benefits from its low coverage area providing ample opportunity for either expanding the building and/or its parking area,” said James Lambert, senior managing director at Elion. “Together with Kent Valley’s limited supply of 100,000- to 200,000-square-foot buildings, we look forward to the value-add opportunities this asset offers the portfolio.”
The firm plans to continue to pursue an investment strategy focused on first-, middle-, and last-mile logistics real estate, targeting core, infill coastal markets exhibiting posi
