Case Studies: IPT Sumner Distribution Center
New 229,016 SF Spec Building in Kent Valley’s Hot Industrial Market
IPT Sumner Distribution Center
3209 W Valley Hwy
E Sumner, WA 98390
The Benaroya Company was chosen by IPT as the fee developer of a new Class A distribution facility due to our relationship and past history of completing a successful 441,358 SF build-to-suit project together. The new building will be completed November 2018.
“One of the main reasons IPT selected The Benaroya Company to develop their IPT Sumner Distribution Center was the great experience we all had with Benaroya developing the 441,358 SF Sumner Distribution Center a few years ago.” said Arie Salomon, Principal, NAI Puget Sound Properties.
Industrial Property Trust Inc. (IPT), a real estate investment trust (REIT) that develops, acquires and operates high-quality distribution warehouses. IPT wanted to develop a new Class A distribution facility on the 11.97 acre site they acquired from us. The Benaroya Company was chosen as the fee developer due to our relationship and past history of completing a successful 441,358 SF build-to-suit project together. IPT was represented by their brokers Arie Solomon, Jeff Forsberg and Taylor Hoff of NAI Puget Sound Properties.
Fee development manager of a new Class A 229,016 SF industrial warehouse/distribution facility.
We elected to phase rolling pre-load in order to reduce the amount of import material needed for the project, saving IPT $700,000.
The new distribution facility is progressing on time and on budget. Strategically on SR-167 in Sumner and near the Ports of Tacoma and Seattle. The project will be completed November 2018.
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