Case Study – 3201 S Norfolk Street | Seattle Industrial Market

Key Deal Points

  • 3201 S Norfolk Street, Seattle, WA
  • Industrial Warehouse, Brand New Class A Construction
  • ± 49,330 SF Total
  • Tenant Representation
  • 10 Year Lease Term

For more information regarding this case study, please contact:

Andrew Hull

Vice President
D  (253) 444-3023
ahull@lee-associates.com

The Challenge

The client required a 50,000 square foot warehouse to support their increased production capacity. The warehouse had to be within proximity to King County Airport. A property that matched their exact specifications in a competitive real estate market posed a significant hurdle. The facility had to offer over 100 parking spaces for delivery trucks and staff vehicles. This was essential for maintaining smooth operations and meeting logistical demands.

Securing a favorable lease agreement was crucial. The client sought a lease that provided both flexibility and cost-effectiveness, which required astute negotiation skills.

Our Approach

Andrew conducted an exhaustive search of available properties, leveraging his extensive network and market knowledge to identify potential warehouses that met the client’s criteria. To ensure that the properties under consideration met the FFG’s needs, Andrew arranged site visits and performed detailed assessments, evaluating the suitability of each location.

Understanding the importance of securing the best possible lease terms to employ a strategic negotiation approach. Engaging in discussions with Prologis and their brokers to address the requirements, negotiate favorable lease terms, and ensure that all operational needs were met.

The Outcome

After an intensive search and negotiation process, Andrew successfully secured a warehouse that was a perfect fit for FFG. The warehouse was a brand-new, Class-A building, located adjacent to King County Airport. It provided ample space to accommodate FFG’s food production needs and future growth, servicing their clients at the airport. The property included a well-designed parking layout, ensuring efficient logistics and ease of access for delivery trucks and employees.

The broker negotiated a lease agreement that provided flexibility and competitive pricing, aligning with the FFG’s financial and operational goals.