CenterPoint expands Seattle port footprint

CenterPoint Properties has acquired more than 400,000 square feet and 31 acres across two properties at the Port of Seattle.    Industrial real estate development and management firm CenterPoint Properties has acquired more than 400,000 square feet and 31 acres across two properties at the Port of Seattle. 
   One of the properties — a 157, 151-square-foot facility on 6.9 acres, which offers rail connection to the BNSF and Union Pacific rail networks — borders the Port of Seattle and is across the waterway from Habor Island Terminal 18. 
   The other property includes a 24.38-acre container yard, as well as a 231,980-square-foot storage building. It offers access to the BNSF Tukwila and UP Port of Seattle intermodal yards.
   Both facilities are fully leased.
   “The acquisitions are an opportunity for CenterPoint to expand on our investment in port-related and logistically advantaged properties in the Puget Sound market,” said Jim Linn, senior vice president for investments at CenterPoint, in a statement. 
   During the past 12 months, CenterPoint has invested in half a dozen properties in the Puget Sound area, totaling about one million square feet.