Lee & Associates Secures 100% Occupied Industrial Asset in Pacific, WA

Seattle, WA – May 30, 2023
Lee & Associates Commercial Real Estate Services is proud to announce the successful acquisition of Pacific Business Park, a fully leased, multi-tenant industrial asset located at 136 Stewart Road SE, Pacific, Washington. The $8.2 million deal was completed as part of a 1031 exchange and facilitated by Troy Gessel, Principal at Lee & Associates Pacific Northwest.

The property encompasses 42,000 square feet of buildings on a 2.78-acre site, housing 22 diverse tenants. At the time of sale, the property boasted 100% occupancy.

Strategic Syndication to Serve Growing Investor Demand

In addition to brokering the transaction, Gessel also syndicated the ownership fund—Pacific West 5, LLC—that purchased the property. This strategic move allowed a group of private investors to gain access to a stabilized, income-producing asset designed to serve a unique but growing niche in the market: automotive-oriented industrial space.

“This property is a perfect example of what our private investors are looking for in today’s market,” said Gessel.
“There is high demand for smaller, incubator-style, automotive-focused properties that can sustain high occupancy and deliver consistent returns. These types of assets are rare—but we’re actively seeking more opportunities like this.”

A Stable Investment in a Resilient Market

The Pacific Northwest’s industrial sector continues to show strength, particularly in submarkets like Pacific, WA, which offer lower barriers to entry and growing demand for light industrial and automotive services. With 22 tenants in place and robust leasing activity, Pacific Business Park is well-positioned to generate steady returns and low vacancy risk.

Integrated Operations & Long-Term Vision

Lee & Associates will oversee marketing and leasing of the asset, while AGM Real Estate Group will provide ongoing property management services, creating a seamless, vertically integrated ownership experience for investors.