Washington

EVERETT, WASH. — Breakthrough, a joint venture of Tishman Speyer and Bellco Capital, has acquired a biomanufacturing facility in Everett, a suburb of Seattle, for $78 million. In tandem with the acquisition, Breakthrough secured a separate 21-year lease for the entire campus with a global biopharmarceutical company to create a U.S. manufacturing facility. The 270,000-square-foot facility can support a range of uses, including drug manufacturing, quality-control lab operations and, warehouse/distribution functions. The property also offers administrative office spaces and an onsite café. The site, located at 215 Shuksan Way, was originally leased to a biotechnology company that invested approximately $350 million to build out a biomanufacturing facility but never moved in after being acquired in 2023. The transaction marks Breakthrough’s first investment in the Puget Sound region. The name of the seller was not released.

PUYALLUP, WASH. — Lincoln Property Co. has acquired Canyon Road Commerce Center, a 275,000-square-foot industrial campus in Washington’s Pierce County. Trammell Crow Co. and an affiliate of CBRE Investment Management sold the asset for an undisclosed price. Located at 5103-5223 136th Street E. in Puyallup, Canyon Road Commerce Center features two Class A industrial buildings designed to accommodate a range of manufacturing, aerospace, logistics and distribution users. Suites can support tenants with requirements as low as approximately 40,000 square feet. The campus features 32- to 36-foot clear heights, 21 dock-high doors per building, substantial power capacity and LED lighting. Chris Spofford, Bill Honsaker, Scott Carter and David Cahill of JLL are handling leasing for the industrial campus. Canyon Road is the third acquisition for Lincoln Logistics Fund II, which has secured more than $280 million in capital commitments from two longstanding institutional investors, alongside Stone Point Capital and Lincoln employees.

FREDERICKSON, WASH. — Bridge Logistics Properties (BLP) has purchased a 782,775-square-foot distribution facility in Frederickson, located within the Seattle-Tacoma metro area. Terms of the transaction were not released. The property was developed by Panattoni and delivered in 2024 as part of a larger industrial development known as Fred310. Jeff Chiate and Bryce Aberg of Cushman & Wakefield facilitated the transaction. Harbor Freight Tools fully occupies the property on a long-term basis. The facility serves as a regional distribution center supporting more than 1,600 stores nationwide. The property, located at 6920 192nd St., features 40-foot clear heights, a cross-dock configuration with 152 dock-high doors and four grade-level doors, full concrete oversized truck courts, 476 trailer stalls, 262 auto parking spaces, 4,000 amps of power with expansion capability, ESFR sprinklers and separate truck and auto entrances.