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REDCO Development, Blackbird Investment Group Acquire 7.4-Acre Industrial Site from Corliss Management Group for $6.3MM

October 19, 2023

October 19, 2023, The Registry

Sources: The Registry

Bay Area-based REDCO Development in partnership with Blackbird Investment Group, has successfully acquired an off market 7.4-acre industrial outdoor storage yard located at 7702 River Road in Puyallup, Washington for $6.3 million. REDCO Development was represented by Matt Murray and Matt McLennan of Kidder Mathews.

Jason Freise, managing partner and co-founder of REDCO Development, who oversees the company’s Pacific Northwest portfolio, expressed his enthusiasm for this acquisition. “River Road presents an exceptional opportunity given its attractive basis, prime location, site optionality, and compelling future development potential.”

Situated in the prominent River Road area, the property boasts excellent visibility and access to one of the region’s most commercially desirable streets. It provides unparalleled connectivity to key transportation hubs, including the Port of Tacoma, Seattle, and the broader Western U.S. region via I-167 and its major thoroughfares.

Matt Murray, Executive VP at Kidder Mathews, also shared his optimism about the River Road Industrial Center, stating, “We are very excited about the River Road Industrial Center given its proximity to the port, the forthcoming infrastructure improvements in the area, and the versatility of the asset. In the long term, this investment is poised to be a solid addition to the South Sound industrial market.”