Seattle, WA

TCC Tops Out Multi-Story Industrial Facility Near the Port of Seattle

Facility at Terminal 106 Will Deliver More Than 700K SF of Industrial Space in Summer 2024

March 25, 2024

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Elise Maguire Ferrara

Senior Manager, U.S. Communications & Media

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Trammell Crow Company (TCC), a global real estate developer, and JV partner MetLife Investment Management, topped out construction of a two-story industrial facility near the Port of Seattle. Located at 44 S Nevada Street, the facility, known as Seattle Metro Logistics, will deliver 702,429 rentable square feet of Class A industrial space in August 2024, making it the largest industrial facility within 15 miles of Downtown Seattle. In 2021, the Port of Seattle Commission approved the long-term ground lease for this portion of Port-owned land – known as Terminal 106 – to TCC, allowing for the demolition of the Port’s old warehouse and construction of the new light industrial facility, which started in 2022. The development of Seattle Metro Logistics will also help the Port of Seattle with their Century Agenda goals.

Situated on 15 acres, the multi-story industrial building – one of only a few of its kind in the United States – will feature two floors with identical specifications, including 30’ clear height, 50 x 50 column spacing, 350 lbs/sf floor loading, ESFR sprinklers, 289’ warehouse depth, and truck court depths ranging from 131’ to 135’. The facility is designed to suit a broad range of industrial uses, from last-mile and regional distribution to storage, maritime, and manufacturing uses. Seattle Metro Logistics will also include a parking garage with 701 spaces, achieving a market-leading stall-per-square-foot ratio of nearly 1/1,000 and a solar-ready roof.

“We are pleased to officially top out our Seattle Metro Logistics project, which will be the largest modern industrial building ever delivered in South Seattle and only the second multi-story industrial development in Seattle,” said Mark Netherland of TCC’s Seattle Office. “Fundamentally, this property is two, single-loaded buildings that are stacked on each other with the flexibility to accommodate one to four tenants. The facility offers users a rare opportunity to have access to a significant amount of modern industrial space in one of the most desirable industrial submarkets in Seattle. Multi-story industrial is an efficient way to achieve scale close to the city center, especially in land-constrained markets like this that are surrounded by bodies of water, wetlands, and other geographical challenges.”

Located within a one-hour drive of a growing population of more than 4 million people, the location of Seattle Metro Logistics affords a future tenant to reach an incredible number of consumers, allowing goods to reach them faster without infiltrating residential neighborhoods with large-scale development or increased truck traffic.

Andrew Stark from CBRE added, “The South Seattle submarket is the closest industrial zone to the city’s population center, yet has an aging industrial inventory – buildings here have an average age of 55 years and only 3% of the current inventory have modern specifications that today’s industrial users needs to operate efficiently. Seattle Metro Logistics is filling this void, offering unmatched scale and quality. We expect that this project will be a welcomed addition to the market, meeting a rising demand for high-end, modern logistics space near the Port, and jobs close to the population core.”

Andrew Stark and Andrew Hitchcock with CBRE are handling the marketing and leasing of the facility. Other project partners include Nelson Worldwide, serving as the architect of record, and Lease Crutcher Lewis acting as the general contractor. Bank OZK is the construction lender.

The facility is centrally located within the Seattle Metropolitan Area (including the cities of Tacoma, Everett, and Bellevue), proximate to Interstates 5 and 90. Situated in South Seattle, Seattle Metro Logistics is within one to three miles of the Port of Seattle’s container terminals, as well as three miles from Downtown Seattle. Seattle Metro Logistics also provides the shortest drivetimes to the neighborhoods north of Downtown, out-positioning facilities in the traditional Seattle industrial submarkets farther south of Seattle.

Please visit www.seattlemetrologistics.com for more information.

Trammell Crow Company

Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of December 31, 2023, TCC had $15.8 billion of projects in process and $13.3 billion in its pipeline. It employs 650 professionals in 26 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.