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December 23, 2016

Kent Valley properties sell in $132M deal

By BRIAN MILLER
Journal staff reporter

Two separate properties in the Kent Valley were part of a $132 million deal between the same buyer and seller.

King County records show the seller was CPF Kent Valley LLC, which is associated with Cornerstone Real Estate Advisors and Barings, both part of MassMutual Financial Group.

The buyer was LIT Industrial Limited Partnership, an entity of Lion Industrial Trust, which is a private New York City real estate investment fund.

CBRE's Brett Hartzell, Darla Longo and the firm's national partners brokered the deal.

Here are the properties that sold:

• Southcenter South Industrial Park in Tukwila at 18436 Cascade Ave. S. It has eight buildings with about 900,000 square feet on 50 acres. The property was developed in 1999. CPF acquired it in 2012 for $67.3 million and has now sold it for $101.6 million to LIT Industrial.

• Green River Corporate Park in Kent at 20206 72nd Ave. S. It has three buildings with about 238,400 square feet on about 12.45 acres. The property was developed in 1987. CPF acquired it in 2012 for $20.1 million and has now sold it for $31.1 million to LIT Industrial.


 

Brian Miller can be reached by email at brian.miller@djc.com or by phone at (206) 219-6517.




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