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September 19, 2024

Pierce County industrial buildings get boost

Down near Spanaway, Logistics Property Company's six-building Frederickson One is being constructed in phases and steadily adding tenants. The development is projected to reach 3 million square feet. There, LPC recently announced that Building 4 and Building 7 have benefited from a $250 million refinancing in May from PGIM Real Estate, which also covers industrial buildings in Wisconsin and Pennsylvania. LPC's Katherine Bernstein said in a statement, “We are very pleased with the structure and execution of this refinancing with PGIM Real Estate, and grateful for their continued support of our platform.” Both buildings are leased to Boeing; they total about 845,618 square feet.




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