January 10, 2018
Seattle, WA – CRG acquired DuPont Corporate Center on January 5, 2018 on behalf of itself and certain investors. The property is master planned as a 1.6 million square foot institutional quality business park on the former Intel campus in DuPont, Washington.
DuPont Corporate Center includes an existing 340,000 square foot facility that will undergo extensive capital improvements. Phase 1 of the development is designed to include a 750,200 square foot state-of-the art distribution facility. Construction is expected to begin summer 2018. Phase 2 plans include a 494,900 square foot state-of-the art distribution facility.
“DuPont Corporate Center is an exciting opportunity for CRG to enhance its national industrial portfolio. We look forward to being a part of the City of DuPont and the Northwest Landing Community,” said CRG Senior Vice President Mike Wurtsbaugh. “The Puget Sound Region, and the I-5 Corridor from Seattle to Portland, is an e-commerce hot spot. The region continues to be one of the most consistent performers and most dynamic investment markets in the Country.”
A strategic regional logistics hub, DuPont Corporate Center is located in immediate proximity to Interstate 5, less than 20 minutes from the Port of Tacoma, within one hour of Seattle and two hours of Portland, Oregon. The campus also benefits from close proximity to DuPont’s core retail and housings which contribute to a strong labor pool.
“We are excited about the opportunity to leverage our team’s many years of local development experience in the market,” said CRG President Chris McKee. “Our plan is to leverage DuPont and our Portland projects to establish the Puget Sound Region as a key market in CRG’s national development strategy.”
Wilma Warshak, SIOR of Washington Real Estate Advisors (WAREA) will market the future development facilities for lease. Monte Decker of CBRE will market the existing property for lease.
CBRE-National Partners represented the Seller in sale of the property. For more information about the site visit realcrg.com/dupontcorporatecenter.