South Sound Business
Davis Property & Investment, LLC & Schuchart Hutchinson has announced the sale of the 40-acre site located in Frederickson Washington to Ashley Furniture Industries for $8,525,000 . Frederickson 40 is fully land use entitled and fill & grade permit ready, with the SEPA review process completed and MDNS issued by Pierce County. The site is suitable for bulk distribution or specialty build-to-suit building up to 900,000 SF. The site can also accommodate smaller building footprints. EC zoning allows outside storage for a variety of yard-intensive users and manufacturing users. Neighboring tenants include BestBuy, Whirlpool, Ikea, and Boeing. The. “The Frederickson sub-market has seen exponential value appreciation over the last 24-36 months” said Jeff Davis, founder, and owner of DPI. “We are pleased with our short-term investment in that sub-market and are looking for more opportunities in the surrounding area.” “Although we created the value on this particular project by completing the land use process, which resulted in a land sale, we would aggressively pursue more ground-up development as opportunities arise.” DPI is an accomplished and experienced developer and asset manager of commercial real estate in the greater Puget Sound market. With strategic alliances among many of the region’s finest service providers, DPI’s development and management team ensures higher-than-average project success and performance. DPI currently manages commercial real estate assets from Seattle, WA to Portland, OR.