Case Study – Tumwater Corporate Center
OVERVIEW
-
- Tumwater Corporate Center Building 1
2422 93rd Ave SW, Tumwater, WA - Industrial / Distribution Facility
- ± 149,340 SF Total
- ± 3,000 SF Office
- Landlord: Crow Holdings
- Tenant: Daedong USA
- Lease Rate:
$0.86 PSF Shell
$1.55 PSF Office Add-on, plus NNN
- Tumwater Corporate Center Building 1
ABOUT THE CLIENT
Daedong-USA, Inc., distributes Kioti
tractors and equipment, part of Daedong
Corporation’s 70+ year legacy in
innovative agricultural solutions. With an
expanding portfolio of autonomous and
AI-driven technologies, Daedong-USA
serves customers globally and continues
to lead advancements in smart farming.
For more information, visit Daedong-Kioti.
THE CHALLENGE
Daedong USA, a Korean manufacturing company, sought a west coast distribution hub for their Kioti Tractor brand. Their goal was to efficiently distribute products to a dealer network spanning the U.S. and Canada. The facility required a Class A image, high functionality, and 2–3 acres of secured outdoor storage. With key decisionmakers based in South Korea, the project presented unique challenges, including a significant time zone difference and language barriers.
OUR APPROACH
We conducted a comprehensive survey of facility options, reaching from California’s Bay Area to the U.S./Canadian border. Each option was analyzed based on quality, functionality, value, proximity to inbound port facilities, and transportation efficiencies. Leveraging local market expertise from Lee & Associates, we implemented a multistate RFP process to evaluate landlord proposals. The results provided an applesto- apples comparison, enabling us to gauge landlord interest and competitiveness effectively.
THE OUTCOME
While Northern California offered competitive rates, Tumwater, Washington, emerged as the optimal choice. The selected facility, located at the Tumwater Corporate Center—a Class A new construction development—offered ample outdoor storage and a strategic location on the I-5 corridor, 35 miles south of Tacoma. The landlord, Crow Holdings, actively pursued the requirement allowing Daedong to securing favorable terms. Tumwater’s proximity to the Port of Tacoma facilitated inbound shipments from South Korea, while its central location supported efficient distribution to dealerships across the western U.S. and Canada.
For more information regarding this case study, please contact:
BILLY MOULTRIE
Principal
Lee & Associates
Pacific Northwest
bmoultrie@lee-associates.com
EUNICE KWON
Vice President
Lee & Associates
Los Angeles - Downtown
ekwon@lee-associates.com
CHRISTIAN MATTSON, SIOR
Principal
Lee & Associates
Pacific Northwest
cmattson@lee-associates.com
CHRIS PETERSON, SIOR, CCIM
Principal
Lee & Associates
Pacific Northwest
cpeterson@lee-associates.com