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7702 River Road East

REDCO Development Acquires 7.4-Acre Industrial Yard In Puyallup, WA For $6.3M
SOLDIndustrial

REDCO Development Acquires 7.4-Acre Industrial Yard In Puyallup, WA For $6.3M

7702 River Road East

$6,300,000

Building Size

Asset Type

Industrial

Closing

Oct 19, 2023

AI

REDCO Development, in partnership with Blackbird Investment Group, has acquired a 7.4-acre industrial outdoor storage yard located at 7702 River Road in Puyallup, Washington. The property was purchased in an off-market transaction for a total of $6.3 million.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $6,300,000
  • Address: 7702 River Rd, Puyallup, WA
  • Market: Puyallup, Washington
  • ACRES: 7.4

The purchase was facilitated by Jason Freise of REDCO Development and Blackbird Investment Group. Serving as the buyer, they successfully completed the acquisition with the assistance of brokers Matt McLennan and Matt Murray from Kidder Mathews.

This transaction represents a notable acquisition of an industrial outdoor storage yard in Puyallup, Washington. The involvement of REDCO Development, in collaboration with Blackbird Investment Group, highlights their strategic approach to expanding their portfolio in the industrial sector.

Players

Matt Murray

Kidder Mathews

Broker

$139.4M

vol

5 deals

Broker
BG
Blackbird Investment GroupBuyer

Puyallup 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

2.52%

Cash-on-Cash

-0.72%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93