News
Dermody Properties Announces the Acquisition of Former Bridge Point Lacey Logistics Park
We recently announced the acquisition of Bridge Point Lacey in Lacey, Washington. Renamed to Lacey I-5 Logistics Center, the three buildings–totaling 717,544 square feet–are located at 3300-3316 Hogum Bay Road Northeast in the logistically advantaged Hawks Prairie master-planned industrial park, geared toward attracting Fortune 500 companies.
The three buildings that make up the Lacey I-5 Logistics Center are fully leased to five different tenants.
“This project is strategically located and offers difficult-to-replicate benefits for tenants within the land-constrained Puget Sound industrial market,” said Ben Seeger, Northwest Region Partner at Dermody Properties. “From significant trailer and auto parking to multiple EV charging truck stall locations, we are excited to be in a position to acquire a property like this one in such a competitive market.”
Built in 2019 and 2020, the three Class A bulk and light industrial facilities range in size from 98,114 to 514,00 square feet with the ability to flex in size based on tenant demand. The Lacey I-5 Logistics Center offers market-leading building attributes such as 32’–36’ clear heights, 185’ truck courts, a large truck yard, and ample dock-high loading. It has been well-maintained since inception.
“The acquisition of the Lacey I-5 Logistics Center represents a significant investment by Dermody Properties within the Pacific Northwest,” said Tim Walsh, Partner and Chief Investment Officer at Dermody Properties. “Puget Sound industrial vacancy is still below the historic average and, with this properties’ strategic location, it will maintain corporate appeal for years to come.”
The Lacey I-5 Logistics Center is located in Thurston County along the I-5 Corridor, about 35 minutes south of the Port of Tacoma, and 55 minutes south of downtown Seattle.
Dermody Properties currently has four available properties in its Pacific Northwest Region with a total of 611,593 square feet of space for lease. Currently available for occupancy in the Seattle area are LogistiCenter® at Pacific Gateway, Buildings 2, 3 and 4. In Portland, 19730 NE Sandy Boulevard is available for occupancy. For more information, please visit the region page on the Dermody Properties website.