LaSalle Divests South Seattle Storage Facility for $73M

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LaSalle Investment Management sold South Seattle Circulation Facility, a three-building industrial park in Seattle’s Industrial District, to an entity connected with Charlie’s Generate for $72.6 million. The properties encompass 315,392 square feet and also are located on 10 acres at 3844 and 3800 Very First Ave. S. as well as 3601 2nd Ave. S., which were constructed in 1949, 1968 and 1980, respectively.

The customer was Three-way B Ventures LLC, an entity associated with Charlie’s Produce’s founders Ray Bowen, Charlie Billow as well as Terry Bagley. KeyBank offered procurement financing.

The employee-owned firm remains to solidify its impact in Seattle. Last fall, Charlie’s Generate gotten its nearby stockrooms. In shifting from a renter inhabitant to a proprietor, the business is making relocate to take advantage of low rates of interest and fix its actual estate costs.

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