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October 26, 2017

Dermody buys Lacey corporate park

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Meridian Campus Corporate Park

Dermody Properties has acquired Meridian Campus Corporate Park in Lacey. Terms were not disclosed. California State Teachers' Retirement System sold the 18-acre park, which has three buildings totaling 459,551 square feet. Dermody will develop a new distribution building there with 318,028 square feet. Construction is expected to begin next month. CBRE's Monte Decker and Andrew Hitchcock will market the property. In a statement, Dermody's Doug Kiersey said, “The region's consumer demand, labor pool, transportation infrastructure and local corporate stalwarts such as Microsoft, Google, Costco, Nordstrom and Boeing make it a highly desirable industrial market. The industrial park's proximity to the Seattle and Portland markets will attract customers in need of Class A, regional distribution centers.” Bellevue-based Dermody has over 70 million square feet of industrial space nationwide.




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