Media Contact: Brittany Falkers
Phone: 503-450-0840
Email: BrittanyF@schnitzerproperties.com
Project photos upon request

Kent, Wash., September 19, 2024 —Pacific Northwest-based Schnitzer Properties today announced the acquisition of the Anderson Commerce Center in Kent, Wash., a four-building, 47,947-square-foot industrial business park.

The acquisition of Anderson Commerce Center strengthens Schnitzer Properties’ focus on supporting small and growing businesses. This property complements the company’s diverse portfolio and will allow Schnitzer Properties to serve more tenants in the Puget Sound market.

Anderson Commerce Center currently has nine tenants, including manufacturers, distributors, and local service providers.

“We are very excited to expand our real estate holdings in the Kent Valley and show our continued commitment to serving small business owners,” said Schnitzer Properties President and CEO Jordan Schnitzer. “As long-term owners and operators, we look forward to working with new and existing tenants to help serve their space needs as their businesses grow and evolve.”

Built in 1988, the center covers 3.68 acres, has a 15’ clear height, and features 24 total 12’ x 12’ roll-up doors. The park also offers plenty of flexibility for tenants under 10,000 square feet by providing a variety of space sizes for lease. Anderson Commerce Center has a strong occupancy history and is currently 87.36% leased.

Anderson Commerce Center is located conveniently near Washington’s two major deepwater ports, the Port of Tacoma and the Port of Seattle, as well as Sea-Tac International Airport and the new Paine Field Airport. The property is located in the Puget Sound region’s highly sought-after industrial market and provides easy access to SR-167, I-5, and I-405.

Schnitzer Properties partnered with Colliers International brokers Bill Condon and Matt McGregor, who voiced excitement for the acquisition.

"Anderson Center has been a top performer in one of the Puget Sound's strongest submarkets. The property's consistent track record speaks for itself. Working with seasoned pros on both sides of the deal made for a smooth process where everyone walked away satisfied," said Colliers Vice Chair Bill Condon.

With this acquisition, Schnitzer Properties owns and manages 2,325,009 square feet of space in the Seattle region, with 582 tenants.

“We’d like to thank Bill Condon, Matt McGregor, and their entire team at Colliers for assisting in the smooth completion of this acquisition. Bill and Matt were instrumental in securing this opportunity, and we look forward to working with them as we grow our portfolio in the Puget Sound,” said Schnitzer Properties Vice President and Seattle Regional Manager Jake Roselli.

About Schnitzer Properties

Founded in 1950, Schnitzer Properties is one of the West’s Top 10 private real estate owners that builds, buys, and manages spaces for people to create, sell, work, and live. Based in Portland, Oregon, Schnitzer Properties has grown to own and operate more than 33 million square feet of property, primarily focused on industrial spaces for small and mid-sized manufacturers. The company manages regional offices in Seattle, Portland, San Francisco, Sacramento, San Diego, Phoenix, Tucson and Las Vegas.