Troy Gessel, Principal at Lee & Associates, syndicates ownership fund and secures 100% occupied property with 22 tenants, positioning for consistent returns and catering to
growing need for automotive-oriented properties
Lee & Associates Facilitates $8.2 Million Acquisition of Pacific Business Park, Meeting Niche Demand in Stable Industrial Market
May 30, 2023 (Seattle, WA) – Lee & Associates Commercial Real Estate Services is pleased to have represented Pacific West 5, LLC, in their acquisition of the Pacific Business Park. Located at 136 Stewart Road SE in Pacific, WA, the property closed in an $8,200,000 transaction, as part of a 1031 exchange. The 42,000 SF of buildings on the 2.78-acre property is currently leased to 22 tenants and is 100% occupied.
Troy Gessel, Principal at Lee & Associates | Pacific Northwest facilitated the transaction and syndicated the ownership fund which purchased the property. Gessel sees this investment opportunity as a way to meet a niche demand in a relatively stable industrial market.
“This property is a perfect example of what our Private Investors are looking for in today’s market, Gessel said. There is high demand for smaller, incubator-styled automotive oriented properties that will sustain high occupancy and generate consistent returns for the investors. These properties are few and far between, but we will continue to be on the lookout for similar investment opportunities going forward.”
Lee & Associates will facilitate marketing and leasing at the property, while AGM Real Estate group will provide property management services.
ABOUT LEE & ASSOCIATES
Lee & Associates offers an array of real estate services tailored to meet the needs of the company’s clients, including commercial real estate brokerage, integrated services, and construction services. Established in 1979, Lee & Associates is now an international firm with offices throughout the United States and Canada. Our professionals regularly collaborate to make sure they are providing their clients with the most advanced, up-to-date market technology and information. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter and Link, our company blog.
For more information on syndication and commercial real estate investing in the Pacific Northwest contact Troy Gessel.
AGM REAL ESTATE
Troy Gessel
Principal
C: 425.301.4422