(Newswire.net — January 15, 2015) Portland, OR — Jordan Schnitzer, president of Harsch Investment Properties, a privately-held real estate investment, development and management company, announces the acquisition of 24th Street Business Park, a 240,000 square foot multi-tenant industrial property comprised of 13 single-story buildings on the 13700 block of 24th St. E in Sumner, Washington, just off of Hwy 167 (Valley Freeway) in Pierce County adjacent to King County.
The incredible development growth in the Pacific Northwest and specifically Sumner with big box warehousing distribution is tremendous and provides a great opportunity for smaller tenants to converge with the synergy created by some major players such as Amazon, Costco, Green Mountain Coffee and Brooks
The business park is currently 94% occupied by a blend of national, regional and local tenants, all with direct access to the Valley Freeway. “24th Street Business Park sits in a robust industrial and manufacturing hub,” said Rob Aigner, Senior Vice President/Regional Manager, Seattle. “We consider this a prime location for small to medium sized industrial clients. The site is well suited for distribution, manufacturing and warehousing tenants, as it offers terrific access to major freeways and arterials. It is also less than 10 miles from the Port of Tacoma and a half hour from the Port of Seattle.”
‘The diversity of our tenants is an advantage to our newly acquired commercial investment property with industries such as food services the likes of Branks BBQ and Subway; Diamond Sports Training facility, Green Tree Mill custom furniture, and MM Comfort systems just to name a few, adds Aigner.
Mr. Aigner continued that the building footprints range from 18,000 to 20,000 square feet of space availability ranging between 1,200-20,000 square feet. “We believe these small-to-medium sized spaces are very desirable in this enormous submarket of large distribution centers. We are proud and excited to expand our Northwest portfolio into the city of Sumner, which is seeing as much development as anywhere else in the region. This location will solidly complement our existing facilities, offering our tenant base a range of choices and opportunities for occupancy.”
Kermit Jorgensen and Griffin Day of Neil Walter Company will serve as the listing agents for 24th Street Business Park.
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About Harsch Investment Properties
Harsch Investment Properties is a privately-held real estate company that acquires, manages and develops properties for its own portfolio. Founded in 1950, the company owns and operates 22 million square feet of office, multi-tenant industrial, multi-family and retail properties in six western states. Headquartered in Portland, Oregon, Harsch has regional offices in Portland, Seattle, the San Francisco Bay Area, Sacramento, Las Vegas, and San Diego. More information can be found by going to http://www.harsch.com.