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3010 Harrison Ave 214,900 SF 4-Star Industrial Building Centralia, WA 98531 For Sale
INVESTMENT HIGHLIGHTS
- STABLE, LONG TERM CASH FLOW - 100% Net leased to multi-national tenant with 16.9 years of term remaining
- MISSION CRITICAL LOCATION - Service center supporting the Pacific Northwest market, from Alaska to Oregon. Access to BNSF and UP.
- FLEXIBLE DESIGN IDEAL FOR DISTRIBUTION OR MANUFACTURING - 38' clear height and 5000 amps of power, potential for cross dock conversion, divisible
EXECUTIVE SUMMARY
CBRE is pleased to present the opportunity to acquire Midway Logistics Center (“The Property”), a 2022-built, Class A industrial building totaling 214,900 SF [1] strategically located midway between Seattle and Portland in Centralia, WA.
The Property is 100% net leased to publicly traded multinational steel manufacturer and supplier Ryerson Steel (NYSE: RYI) (Fitch: BB) until August, 2042. Ryerson Steel has an annual revenue of ±$4.5 billion and has been in business since 1842. The Property is mission critical for Ryerson Steel due to its unique specifications, Centralia’s regional distribution location, and the company’s recent $15-$20 million capital investment. The Property boasts a 38’ clear height, a 10” slab, 5,000 amps of power, and a flexible site with the potential for future cross dock or multi-tenant use.
Midway Logistics Center is located in supply-constrained Lewis County equidistant between the Seattle and Portland markets, offering access to 7.6 million people within 100 miles. Lewis County’s 1.9% vacancy rate is one of the lowest in the U.S. and is 730 bps and 450 bps tighter than the Seattle and Portland vacancy rates, respectively.
[1] Lease was signed for 212,000 SF prior to the building’s completion. Actual building area is 214,900 SF.
The Property is 100% net leased to publicly traded multinational steel manufacturer and supplier Ryerson Steel (NYSE: RYI) (Fitch: BB) until August, 2042. Ryerson Steel has an annual revenue of ±$4.5 billion and has been in business since 1842. The Property is mission critical for Ryerson Steel due to its unique specifications, Centralia’s regional distribution location, and the company’s recent $15-$20 million capital investment. The Property boasts a 38’ clear height, a 10” slab, 5,000 amps of power, and a flexible site with the potential for future cross dock or multi-tenant use.
Midway Logistics Center is located in supply-constrained Lewis County equidistant between the Seattle and Portland markets, offering access to 7.6 million people within 100 miles. Lewis County’s 1.9% vacancy rate is one of the lowest in the U.S. and is 730 bps and 450 bps tighter than the Seattle and Portland vacancy rates, respectively.
[1] Lease was signed for 212,000 SF prior to the building’s completion. Actual building area is 214,900 SF.
PROPERTY FACTS
| Sale Type | Investment NNN | Year Built | 2022 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Distribution | Parking Ratio | 0.68/1,000 SF |
| Building Class | B | Clear Ceiling Height | 38’ |
| Lot Size | 15.50 AC | No. Dock-High Doors/Loading | 1 |
| Rentable Building Area | 214,900 SF | No. Drive In / Grade-Level Doors | 6 |
| No. Stories | 1 | ||
| Zoning | Industrial - Light Industrial | ||
| Sale Type | Investment NNN |
| Property Type | Industrial |
| Property Subtype | Distribution |
| Building Class | B |
| Lot Size | 15.50 AC |
| Rentable Building Area | 214,900 SF |
| No. Stories | 1 |
| Year Built | 2022 |
| Tenancy | Single |
| Parking Ratio | 0.68/1,000 SF |
| Clear Ceiling Height | 38’ |
| No. Dock-High Doors/Loading | 1 |
| No. Drive In / Grade-Level Doors | 6 |
| Zoning | Industrial - Light Industrial |
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PROPERTY TAXES
| Parcel Number | 023765-001-001 | Improvements Assessment | $53,959,874 CAD |
| Land Assessment | $7,255,930 CAD | Total Assessment | $61,215,804 CAD |
PROPERTY TAXES
Parcel Number
023765-001-001
Land Assessment
$7,255,930 CAD
Improvements Assessment
$53,959,874 CAD
Total Assessment
$61,215,804 CAD
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