Updated Sep 11, 2026
First Industrial Realty Trust Acquires Industrial Property In Pacific, WA For $20M
1508 Valentine Avenue Southeast
$20,000,000
$5/SF
Building Size
3,389,830 SF
Asset Type
Industrial
Closing
Jul 29, 2022
About this deal
AI
An industrial property located at 1508 Valentine Ave. SE in Pacific, WA has been sold for $20,000,000. The property spans 338,983 square feet and is situated on approximately 7.82 acres of land. The price per square foot was $59, and the price per acre was calculated to be $2,557,545. The transaction took place on 07/29/2022.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $20,000,000
- Address: 1508 Valentine Ave. SE
- Market: Pacific, WA
The buyer of the property is First Industrial Realty Trust, represented by Rich Poolis and John Quinn. They can be contacted via their LinkedIn profiles: Rich Poolis (https://www.linkedin.com/in/richard-y-poolis-52608219) and John Quinn (www.linkedin.com/in/john-quinn-0b32909). On the other hand, the seller was Pat Scoccolo and Mark Scoccolo.
Taylor Hoff, from Newmark, served as the broker for this transaction. You can find his LinkedIn profile at https://www.linkedin.com/in/taylor-hoff-sior-3b320910/.
Players
Pacific Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93