FOR IMMEDIATE RELEASE

Date: October4,2024
Contact:Brittany Falkers, Communications Director
Connect:651-324-5036 o rbrittanyf@schnitzerproperties.com

Auburn,Wash.—Schnitzer Properties announced its second Kent Valley acquisition in two months—White River Corporate Park, a230,575 SF premier, four-building industrial park in Auburn, Wash. The recent flurry of acquisitions demonstrates Schnitzer Properties’ confident investment strategy to create communities for small and growing businesses in Puget Sound.

With these acquisitions, Schnitzer Properties owns and manages over 2.5 million square feet in PugetSound, with 594 tenants. White River Corporate Parkis fully leased and houses 12 bedrock tenants, including manufacturers, distributors, and service providers.

“We are thrilled to continue to expand our footprint in the Puget Sound area! In adding these properties to our portfolio, we have made it clear we believe in the potential of the Kent Valley and the businesses that thrive there,” said Schnitzer Properties President and CEO Jordan Schnitzer. “As a long-term owner and operator, these properties are a key part of our strategic investment in the area.”

“The addition of Anderson Commerce Center and White River Corporate Park reiterate our commitment to serving tenants in the Puget Sound market and will allow us to work with tenants throughout the lifecycle of their business. We’d like to thank Bill Condon and Matt McGregor of Colliers and Brett Hartzelland Paige Morgan of CBRE for bringing these opportunities to us. We look forward to the continued growth of our Puget Sound portfolio,” said Schnitzer Properties Vice President and Seattle Regional Manager Jake Roselli.

"We'd like to congratulate Schnitzer Properties on another successful acquisition in the Seattle market of this tremendous asset in the heart of the Kent Valley. They were a pleasure to deal with as a buyer in this transaction," said CBRE Vice Chairman Brett Hartzell

About Schnitzer Properties

Schnitzer Properties is a family-owned real estate investment and development company that is one of the Top 10 private real estate owners in the West. Founded in 1950 in Portland, Ore., Jordan Schnitzer has grown Schnitzer Properties to own and operate more than 33 million square feet of property, primarily focused on industrial spaces for small and mid-sized manufacturers, distributors and service providers. The company manages regional offices in Seattle, Portland, the San Francisco Bay Area, Sacramento, San Diego, Phoenix, Tucson, and Las Vegas.