LaSalle Investment Management Acquires Seattle Gateway I & II Industrial Facilities For $108 Million

The transaction involves two fully leased Class A logistics facilities, known as Seattle Gateway I & II, located at 14237 Des Moines Way South and 1021 South 146th Street in Burien, WA. The total square footage of the properties is 458,700, with a sale price of $108,000,000, translating to a price per square foot of $235.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $108,000,000
• Buyer: LaSalle Investment Management
• Seller: Panattoni
• Brokers: Brett Hartzell & Chris Reeves - CBRE
• Square Footage: 458,700
• Price per Square Foot: $235
• Market: Burien, WA

The deal was brokered by Brett Hartzell and Chris Reeves from CBRE, highlighting the strong institutional demand for industrial assets in the tight, supply-constrained SeaTac industrial market.