Description

JLL Industrial Capital Markets is pleased to present the opportunity to acquire the fee-simple interest in Totem Industrial Park, a 76,377 square foot warehouse located in Kent, WA. Situated within the Kent Valley, the Property is strategically located in South Kent, nearly equidistant from both Seattle and Tacoma. The location benefits from strong labor fundamentals as well as its location within 5 miles of SR-167 and I-5, enabling efficient access to critical transportation hubs including Seattle-Tacoma International Airport, and the Port of Tacoma.

Totem Industrial Park is 92% leased to 10 unique tenants, with a weighted average lease term of 3.2 years*. The Property presents a diversified tenant mix along with a 25-year average historical occupancy rate of 95%. Notable tenants include Evergreen Signs, WSC Garden and RevelHaus, two of which recently expanded by nearly 50% and more than doubled their current footprints, as well as recent new leases and renewals from 4 different tenants in the past 6 months. The Property presents a desirable shallow bay profile with 14’ – 16’ clear heights, 38K SF of excess yard area, and a variety of suite configurations ideal for diverse user requirements.

Totem Industrial Park presents a rare and extremely attractive opportunity to acquire a shallow bay, infill warehouse in Seattle’s premier industrial corridor, presenting high barriers to entry and irreplaceable accessibility to major thoroughfares. The South Kent Valley location of the Property facilitates seamless servicing to Seattle, the Eastside, and Tacoma all while surrounded by high-profile corporate occupiers and a deep, growing talent pool. The Property’s proven historical occupancy, diverse tenant mix, and excess yard area ensures continued leasing success and high residual value.

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