(Seattle, WA – October 30, 2020) The Seattle office of Duke Realty (NYSE: DRE), the leading domestic-only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, announces that it is constructing a new 190,042-square-foot logistics warehouse on a redeveloped 9.01-acre site at 1510 Puyallup Street in Sumner, Washington. Named Duke Sumner Logistics Center, the property is being developed on a speculative basis in the Kent Valley, Seattle’s primary industrial submarket. The site is strategically located just two and a half miles from Highway 167, ten miles east of the Port of Tacoma, and 34 miles from the Port of Seattle. The site is located on an M-2 zoned parcel (heavy industrial), which allows for a wide variety of potential users.
“We are excited to announce that we will soon be able to offer a large block of modern, first-generation logistics space close to the Ports of Tacoma and Seattle, in an area where sites for new development projects are scarce,” said Mark Hosfeld, vice president and market leader for Duke Realty’s Seattle operations. “Demand for quality space in the Kent Valley submarket continues to be strong as evidenced by a less than five percent vacancy rate. Duke Sumner Logistics Center will be an excellent option for companies that want close proximity to the ports, great access to a deep labor pool and a strong local and regional consumer base.”
“Seattle’s continued population and employment growth, as well as its connection to global trade, align well with Duke Realty’s focus on coastal tier 1 markets,” said Drew Hess, senior vice president for Duke Realty’s Northwest region. “We currently own or have under construction two million square feet of logistics real estate in the Seattle market and we will continue to expand our portfolio through high-quality development and acquisitions in this supply-constrained market. Our speculative development of Duke Sumner Logistics Center is an example of our commitment to this strategic market.”
Plans call for Duke Realty’s newest Kent Valley building to be a LEED® certified, 32′ clear logistics warehouse with excess truck parking. Features include speculative office space, a 240’ truck court with parking for 60 trailers and 125 auto stalls. The demolition of existing structures, remediation and site preparation was completed at the end of July. Construction will begin immediately and delivery is slated for April 2021.
Parties interested in preleasing Duke Sumner Logistics Center should contact Mark Hosfeld at 317.289.4554.