News

Dermody is pleased to announce a new addition to its Northwest Region industrial real estate portfolio with the acquisition of 40.86 acres of land located at 17027-17028 Canyon Parkway E. in Tacoma, Washington. The fully entitled site will become LogistiCenter® at Frederickson, housing two buildings–Building A and B–as well as a trailer lot. Building A will be a 443,420-square-foot facility, and Building B is 91,728 SF. The trailer lot will be 3+ acres. Both buildings have broken ground, with delivery anticipated in the second quarter of 2026.

“The Tacoma-Fife submarket is one of the most sought-after submarkets in the region due to its proximity to skilled labor, a large consumer base and access to the Ports of Seattle and Tacoma,” said Ben Seeger, Northwest Region Partner at Dermody. “It’s a highly recognized area serving as a key infill submarket for the broader region. There is limited land available for development in this area and this was the best located developable land site of scale left in Frederickson, with great proximity to the major transportation networks in the region.”

Frederickson has experienced a recent surge in industrial real estate leasing activity, accounting for the majority of all transactions in the Puget Sound over the past three years.

“This acquisition is a sign of Dermody’s continued dedication and investment in the Northwest market” said Tim Walsh, Partner and Chief Investment Officer for Dermody. “LogistiCenter® at Frederickson aligns with our broader strategy to grow where our customers need us most.”

Leasing brokers for the project are Andrew Hitchcock, Executive Vice President; Andrew Stark, Executive Vice President and Zac Snedeker, Senior Vice President at CBRE. Dermody would like to thank Brett Hartzell, Vice Chairman of CBRE’s National Partners for his assistance in this acquisition.