Alterra IOS, a leading industrial real estate platform with more than 230+ IOS assets under management, has purchased property located at 7807 44th Avenue W, Mukilteo, WA, 98275.

Situated on 1.74 acres in the Seattle MSA, this property features a 9,155 square foot building with 4 grade-level drive-in doors and one dock door, accommodating industrial and commercial needs.

Benefits of this acquisition include its prime location within a dense IOS cluster in the Northend Industrial submarket of Seattle. The property offers immediate access to Interstate 5 via SR 526 and is conveniently located within 1 mile of Seattle Paine Field International Airport. Paine Field is also home to the Boeing Everett Factory, adding significant value to the area's economic landscape.

“Our acquisition of the Mukilteo property underscores Alterra’s commitment to expanding our footprint in the Seattle MSA,” said Parker Pearson, Vice President, Alterra IOS. This property’s prime location and access to major transportation routes make it a valuable addition to our portfolio, and we are excited about the opportunities it presents for future tenants.”

The deal was widely marketed by Cushman & Wakefield, with Alterra IOS being represented by Kidder Matthews. After a competitive process that saw multiple offers, Alterra was the successful deal holder. Kidder Matthews will continue to list and market the property for lease.

After Schwan’s Food sold off its distribution operation, the acquisition led to the availability of 30+ vacant properties in Q4 of 2023. The properties’ vacancy opens opportunities for a range of tenants, including contractors, material yards, roofing supply, and fleet parking operations.

Alterra IOS is excited about the potential of this acquisition and looks forward to leveraging its strategic location in the Seattle market.