Bridge Logistics Properties has acquired a 782,775-square-foot Class A distribution facility in Frederickson, Wash., fully leased to Harbor Freight Tools, the company said. The purchase, BLP’s largest in the Seattle-Tacoma market to date, adds a modern warehouse near the Port of Tacoma to the industrial investor’s growing West Coast portfolio.
The property at 6920 192nd Street sits on 53.3 acres about 17 miles from the Port of Tacoma, according to BLP. It was completed in 2024 as part of developer Panattoni’s larger Fred310 industrial park in Frederickson, a nearly 310-acre logistics campus in Pierce County between Tacoma and Olympia that Panattoni has developed with a real estate fund advised by Crow Holdings Capital.
Harbor Freight Tools occupies the entire building on a long-term lease, using it as a regional distribution center that supports more than 1,600 of the retailer’s stores nationwide, BLP said. The company did not disclose the purchase price or identify the seller.
The building has 40-foot clear heights, a cross-dock configuration with 152 dock-high doors and four grade-level doors, 476 trailer stalls and 262 auto parking spaces, according to BLP. It also has 4,000 amps of power with room for expansion, ESFR fire sprinklers and separated truck and auto entrances. Jeff Chiate and Bryce Aberg of Cushman & Wakefield worked on the transaction.
BLP expands its Seattle-area industrial real estate footprint
“This acquisition reflects our conviction in premier logistics markets with durable long-term fundamentals and meaningful barriers to large-format development,” Paul Jones, managing director of BLP, said in the company’s statement. BLP said the Seattle-Tacoma industrial supply pipeline has contracted more than 60% year over year, a trend it said favors owners of large, modern Class A buildings.
Bridge Logistics Properties was founded in 2021 by industrial real estate veterans with prior experience at Brookfield, Prologis, IDI Logistics, Duke Realty, Hines and KTR Partners, according to the company. BLP operates through five regional offices in New Jersey, Atlanta, Miami, Dallas and Los Angeles and describes itself as an affiliate of Apollo Global Management (NYSE: APO), which completed its acquisition of BLP’s parent, Bridge Investment Group, in September 2025. The Frederickson purchase is BLP’s largest acquisition in the Seattle-Tacoma market since its founding, according to the company.
The deal adds to a run of large industrial trades this year. Earlier in 2026, EQT Real Estate secured $268 million in financing for a 2.8 million-square-foot logistics portfolio, and developers including Opus have continued building new speculative industrial space even as some markets see rising vacancy.
What it means
The property specifications, location, tenant and BLP’s account of the transaction come from the company’s own announcement. The purchase price was not disclosed by BLP, and RealtyWire found no county filing or other primary source confirming a sale amount, so none is reported here. RealtyWire’s analysis: the acquisition signals continued institutional demand for fully leased, modern industrial buildings in supply-constrained coastal logistics markets, though it does not by itself indicate broader trends in Seattle-area industrial pricing. See more commercial real estate news from RealtyWire.
