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November 23, 2021

Panattoni sells new industrial building for $87M

Real Estate Editor

Panattoni has sold its new Tacoma Gateway II, at 12005 Steele St. S. in the Spanaway-Parkland area , for $87 million, according to Pierce County records. Also through an LLC, it acquired the nearly 20-acres last year for nearly $16.8 million, then developed the property. Crow Holdings was its financial partner.

The buyer was RLIF Steele Street SPE LLC, which is associated with supply chain specialist Realterm, of Maryland.

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