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

Property Image
SOLD
$6,300,000
Matt Murray
Matt McLennan

Washington

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Industrial
Sold 10/19/2023
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Property Image
SOLD

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

7702 River Road East

See Similar Deals
Industrial
Sold 10/19/2023
Matt Murray
Matt McLennan
the dealplayerscompscontact
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Summary

WASHINGTON
Asset Type:Industrial
Transaction Type:Sale

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
Matt Murray
5 deals$139.4M volume
BROKER
Matt McLennan
Kidder Mathews
Matt McLennan
7 deals$77.7M volume(253) 722-1458
BROKER
BG
Blackbird Investment Group
BUYER

Details

SOLD
IMAGE: Jason Freise, Matt McLennan & Matt Murray DATE: 10/19/2023 ADDRESS: 7702 River Rd MARKET: Puyallup, WA ASSET TYPE: Industrial ~ ACRES: 7.4 BUYER: Jason Freise - REDCO Development & Blackbird Investment Group BROKERS: Matt McLennan & Matt Murray - Kidder Mathews SALE PRICE: $6,300,000 NOTE: REDCO Development, in partnership with Blackbird Investment Group, has acquired a 7.4-acre industrial outdoor storage yard at 7702 River Road in Puyallup, Washington, for $6.3 million in an off-market transaction.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$336,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$22,382.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,865.21
Annual Debt Service$358,382.57