REBusinessOnline

Davis Property Divests of Starlite Distribution Center Near Seattle for $39.5M

Starlite-Distribution-Center-Lakewood-WA

Starlite Distribution Center in Lakewood, Wash., features 246,000 square feet of industrial space with 32-foot clear heights.

LAKEWOOD, WASH. — Davis Property & Investment (DPI) has completed the disposition of Starlite Distribution Center, an industrial property located at 3451 84th St. in Lakewood. An undisclosed buyer acquired the facility for $39.5 million.

DPI acquired, entitled and developed the site into a 246,000-square-foot distribution center with 32-foot clear heights, ample trailer and vehicle parking, and freeway access.

Currently, DPI has five industrial and professional buildings at various stages of design and construction with a value of approximately $100.2 million. The company closed more than $15.5 million in transactions over the last year and owns/manages nearly 5 million square feet of commercial real estate assets from Seattle to Portland, Ore.

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