Bridge Development Partners Acquires 2 Parcels For Industrial Development
Bridge Development Partners LLC recently acquired two pieces of property on which it plans to develop industrial facilities. It will develop the 97,522 SF Bridge Point Kent 100 at 26524 79th Ave. in Kent on 4.73 acres and the 64,574 SF Bridge Point Sumner Point 60 at 1710 136th Ave. E. in Sumner. That parcel is 2.89 acres.
The Kent facility will include 30-foot clear ceiling heights, 14 dock-high and two grade-level doors, flexible size configurations and an ESFR fire sprinkler system. It will be divisible down to 30K SF. It is expected to be delivered in the first quarter of 2020.
The Sumner building will also feature 30-foot clear ceiling heights and an ESFR fire sprinkler system. It will have three grade-level doors, 10 dock-high doors and a 120-foot truck court with parking for 54 cars. It will offer flexible space options that range from 20K to 65K SF. Bridge will break ground on this facility this quarter and should deliver by the first quarter of 2020.
“The Seattle industrial market remains among the country’s most dynamic, as a surging economy and strong population growth is creating continuous demand from users,” Bridge partner, Northwest Region, Justin Carlucci said in a statement. “However, much of the new product being delivered is designed specifically for larger tenants.”
The new facilities will allow Bridge to cater to smaller companies, Carlucci said.
Steve Brunette, Shawn Childs and Andrew Stark of CBRE brokered the deal for Bridge on the Kent property. Childs and Stark will serve as leasing agents for the property. Kermit Jorgensen and Scott Price from Neil Walter Co. brokered the deal for Bridge on the Sumner property and will also serve as leasing agents for the project.
The purchases are the latest in a series of acquisitions and developments for Bridge in the Seattle area and the Pacific Northwest. Within the last eight months, it has also announced plans for Bridge Point Lacey in Seattle and Bridge Point I-5 in Portland.