Annapolis, MD (December 14 ,2021) – Realterm announced today that it has acquired Tacoma Gateway II, a newly built Class A final mile distribution facility. Totaling 273,816 square feet, the warehouse is located at 12005 Steele Street S., Tacoma, Washington, and is fully leased by a single tenant. In addition to the warehouse space, the asset features 2,300 square feet of office space, 61 loading positions, 152 parking spots and 217 trailer stalls. It sits on a 19.72-acre site and includes 4.77 acres of fenced space for future development.

“We are excited to acquire a best-in-class facility in the Seattle-Tacoma market. This new warehouse is advantageously located and highly differentiated with the excess parking. It will serve as a valuable addition to Realterm’s portfolio,” said Blair Duncan, Associate Vice President, West Region Acquisitions, Realterm.

Tacoma Gateway II offers immediate access to I-5 and State Route 512. It is in close proximity to the Port of Tacoma and the Port of Seattle which link Asian markets to the United States and create a vital link to Canada and Alaska. SeaTac International Airport is 32 miles from the facility.

“We’re acquiring an asset that provides an excellent level of high flow-through functionality and enhances our portfolio,” said Stephen Panos, Senior Vice President and Fund Manager, Realterm. “This is a continuation of our strategy to acquire the best final mile investments in the top markets which are projected to outperform the broader U.S.”

CBRE represented Realterm and facilitated the sale.

Highlights of the property include:

  • Square feet: 273,816 SF
  • Land area: 19.72 acres
  • Loading positions: 61
  • Access: I-5 and SR-512
Derek Fish

Senior Vice President, Investments,

Blair Duncan

Vice President, Investments, West Region