Lift Partners Acquires 4 Assets for $30.5MM in Q1 2019
San Francisco, CA (April 3, 2019) – Lift Partners Fund I acquired four properties totaling $30.55M in the Bay Area and Seattle during the first quarter of 2019. The properties, totaling 184,000 SF, are a combination of traditional warehouse, last mile and flex industrial space.
The properties are located in core industrial areas of San Francisco, Seattle and the Kent Valley.
2070 Newcomb Ave ($6.45MM) – San Francisco, CA is a 20,000 SF clear span metal building in the Bayview submarket of San Francisco. The property is directly adjacent to the multi-story industrial project under development by Prologis and is located ~4 miles from Downtown San Francisco. The property is marketed for lease by Scott Mason of Calco Commercial who also represented Lift Partners in the acquisition.
7416 228th St ($5.9MM) – Kent, WA is a 48,580 SF single-tenant manufacturing and distribution building in the North Kent Valley. The project was 100% leased to Pacific Metals at close. Lift Partners was represented by Taylor Hoff of Newmark in the transaction and will also represent Lift Partners in leasing the asset.
1206-1230 Andover Park East ($11.25MM) – Tukwila, WA is a three building, multi-tenant portfolio located in the Southcenter submarket adjacent to Home Depot and Costco. Lift Partners was represented by Taylor Hoff of Newmark in the transaction and will also represent Lift Partners in leasing the asset.
820 South Adams St ($6.9MM) – Seattle, WA is a multi-tenant industrial building in located in the SODO submarket of Seattle. The property was developed in the 1950’s and offers a unique aesthetic with the original wood truss roof system. Lift Partners was represented by Kevin Skillestad and Ed Hogan of Neil Walter in the transaction who will also market the asset for lease.