Oakesdale Commerce Center Industrial Renton, Washington

Background

RREEF Funds and California Public Employees Retirement System were interested in purchasing 29.1 acres for the development of industrial buildings. Capstone Partners provided a development strategy, methodology, team and implementation plan for the project. Capstone built and staffed the development.

Result

Construction commenced in April, 2004.

  • 3 buildings totaling 90,000 square feet of grade level service center space.
  • 10 buildings totaling 430,000 square feet of dock high warehouse space.
  • 7 buildings for lease, 1 building sold to a user.
  • Between 20% and 50% of the space will be support office use.
  • Project leased to 91%
  • Major tenants
    – Boeing
    – Office Max
    – Apparel Source
    – Global Industries
    – Cold Standard

Project sold in March of 2006 to Invesco at record price.

Project Statistics

  • 520,000 total square feet
  • $56 million, 13 building- Class A industrial project