A more than 200,000-square-foot industrial and distribution center in Auburn has sold to a California-based real estate investment firm, Cushman & Wakefield announced this week.
Kennedy Wilson, headquartered in Beverly Hills, has acquired Auburn Park 44 at 814 44th Street for an undisclosed price. The property includes ceiling heights up to 30 feet and a large parking lot on a nine-acre property near SR-167, SeaTac, and the Ports of Seattle and Tacoma.
“This is an institutional-quality industrial asset well positioned in Auburn, WA, considered as one of the most sought-after industrial submarkets in the country, with vacancy at just 2.9% at the close of 2024 (per C&W research)," said Cushman & Wakefield’s Jeff Chiate in a news release. The property features exceptional access to an abundant labor pool, over 4.5 million consumers within a 50-mile radius, plus Seattle’s robust freeway network, together with long-term tenancy and major companies that have occupied their space since building inception as well as headquartered at Auburn Park 44,”
Chiate, Matthew Leupold, Bryce Aberg, Rick Ellison and Aubrie Monahan of the Cushman & Wakefield's National Industrial Group –West represented the seller in the transaction, while Patrick Mullin in collaboration with Andrew Hitchcock of CBRE provided local leasing advisory.
Cushman & Wakefield's Keith Padien and Max Schafer arranged the acquisition loan on behalf of Kennedy Wilson.
