Iron Mountain Sells Seattle Warehouse for $45M

The 276,330-square-foot facility previously traded in 2001, when Equity Industrial Partners sold it for $11 million.
19826 Russell Road S.

Iron Mountain has completed the $44.5 million sale of a 276,330-square-foot industrial property in Kent, Wash. CenterPoint Properties acquired the facility, according to King County records. The asset last changed hands in 2001, when Equity Industrial Partners sold it for $11 million, Yardi Matrix data shows.

Located on 12 acres at 19826 Russell Road S., the single-story warehouse was built in 1981 and expanded in 1990. The facility has an 8,940-square-foot office component, one drive-in door and 78 loading docks. The seller has used the property for document and data storage and the secure shredding and disposition of IT assets.

The site is a short distance from Boeing Industrial Park and two Amazon fulfillment centers. The property is 2 miles from Interstate 5 and roughly 5 miles from Seattle-Tacoma International Airport. Downtown Seattle is 15 miles away.

In May, Iron Mountain finalized the $9 million disposition of a 145,000-square-foot industrial facility in Oklahoma City. Kessinger Hunter Capital acquired the asset, backed by a seven-year, $3.5 million acquisition loan from BOK Financial.