Newmark Arranges Sale of Premier Industrial Property at 3102 S. Pine Street, Tacoma

June 9, 2025 9:00 AM

Newmark announces it has arranged the sale of 3102 S. Pine Street, a 194,857-square-foot industrial property located in Tacoma, Washington. The property sold for an undisclosed amount.

Newmark Executive Managing Directors Andrew Briner and Jim Linn, Associate Director Aaron Banks and Senior Analyst Luke Easton, in collaboration with Vice Chairmen Thad Mallory and Taylor Hoff, represented the seller, CenterPoint Properties. The buyer was Goodwill of the Tacoma Goodwill Industries.

“The sale of 3102 S. Pine Street drew double digit offers from top-tier institutional investors, reflecting the high demand for premium industrial assets with superior trailer parking, extensive loading capabilities and proximity to the Port of Tacoma,” said Linn. “Goodwill’s determination to secure ownership underscores its long-term commitment to strengthening its operational presence in the region.”

The industrial facility, situated on 10.6 acres in the Fife/Tacoma submarket, is a mission-critical asset featuring 24-foot clear heights, 36 dock-high loading positions and three grade-level loading positions. Its strategic location offers proximity to major transportation infrastructure, including the Port of Tacoma, making it a property suitable for logistics and distribution operations. The property is part of the Seattle Infill Industrial Portfolio, a collection of four logistics facilities totaling 631,847 square feet across the Kent, Tukwila and Fife/Tacoma submarkets.

The U.S. industrial market continues to show resilience despite rising vacancy rates, which reached 7.0% in the first quarter of 2025, the highest in over a decade. Net absorption and new leasing activity accelerated, marking the strongest absorption since Q4 2023, driven by occupier optimism in the post-election window, according to Newmark Research. Institutional and private capital remain very active in the Western Region, underscoring the competitive landscape for high-quality industrial assets like those in the Seattle Infill Industrial Portfolio.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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