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SEATTLE — A joint venture between Staley Point Capital and Bain Capital Real Estate has acquired 2424 8th Avenue South, a warehouse property located in Seattle’s SODO neighborhood. The price was $31.6 million, or $351 per square foot.
The 90,000-square-foot facility features 42 dock-high doors and is within 10 miles of the region’s most significant distribution hubs, including SeaTac International Airport and the BNSF and Union Pacific railway yards.
Winston & Strawn LLP served as legal counsel to Staley Point Capital for the transaction. Newmark represented the undisclosed seller and JLL Capital Markets will arrange financing for the transaction.