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August 21, 2025

Yard space trades for over $12M

By JOURNAL STAFF

PARKLAND — An industrial property at 1206 112th St. E. and related addresses sold last week for $12.1 million, according to Pierce County records. The seller was Parkland Commercial Properties LLC, which had owned the mostly vacant property.

The buyer was 112 Rhine Partners LLC, which is associated with Alterra IOS. Alterra, based Pennsylvania, specializes in outdoor storage and industrial properties. The LLC's name reflects that of the tenant, Rhine Construction.


 
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