Trammell Crow Company and The Carlyle Group developed a 15-acre site in Fife, WA with a 250,490-square-foot state-of-the-art, Class A industrial building. The building is located in the Port of Tacoma industrial submarket, with close proximity to I-5, the Port of Tacoma and SeaTac Airport.
Developed with the highest institutional standards, this rear-loaded building presents an easily accessible 132-to-139-foot truck court, 60-foot concrete apron, and 62 dock high doors with dock seals. Inside features 32-foot clear height, LED lighting, ESFR sprinklers and 6,000 amps of 480 v3 phase power. 50 x 50 column spacing allows for flexible layout for 2nd generation leasing.
Opportunity, Solutions & Outcomes
The investment thesis was to create a highly differentiated, 32-foot clear, modern facility, maximizing the building’s footprint on a desirable infill site in Fife. Also, our goal was also to complete the shell building by March of 2017 into favorable market conditions. Absorption in the market was accelerating and there was a window with a lack of new supply during 2017.
The building was 100 percent leased at shell completion. Shell completion was 30 days ahead of schedule and the final costs were below budget.