CenterPoint Properties is proud to announce the acquisition of a two-building portfolio consisting of 342,869 SF at 5900 and 5960-5990 1st Avenue South in Seattle, Washington. The buildings are located on 11.58 acres and are 100 percent leased. Jim Honan and Kevin Skillestad and of Neil Walter Company represented CenterPoint in the transaction.

“These buildings represent the last institutional quality assets of scale in the South Seattle market,” said Ryan Dunlap, Senior Vice President of Investments at CenterPoint. “The project is strategically located at the gateway of Seattle and will undergo an extensive capital program along with a rebranding.”
The project is leased to seven tenants ranging from 10,000 to 75,000 SF.
“We are confident the variety of market sized units positions the building strategically in a smaller footprint market,” said Greg Pearson, Vice President of Investments at CenterPoint.
This portfolio has proximity to major transportation hubs, including immediate access to Route 509 and Interstate 5. In addition, the buildings are strategically situated two miles from the Port of Seattle, 3.5 miles from the Seattle Central Business District and 29.5 miles from the Port of Tacoma. Site features include above market auto parking and truck court depths.