Updated May 12, 2025
Pine Forest Properties Acquires Amazon-Leased Industrial Building From KKR In Everett For $51M
607 Riverside Road
$51,000,000
Building Size
—
Asset Type
Industrial
Closing
Mar 28, 2025
About this deal
AI
The asset involved in this transaction is an Amazon-leased industrial building located at 607 Riverside Road, Everett, WA. The property was sold for $51,000,000. Developed in 2019 as part of Riverside Business Park, the fulfillment center will continue its lease with Amazon after the sale.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $51,000,000
- Buyer: Pine Forest Properties
- Seller: KKR
- Previous Sale Price by Seller: $45,100,000
- Lease: Amazon
Pine Forest Properties has acquired the property from KKR, which originally purchased the site in 2020. The ongoing relationship with Amazon is a critical aspect of this transaction, as the fulfillment center will retain its lease with the company following the change in ownership.
On the Map
$51,000,000
Industrial
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Everett Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93