811 SW Grady Way, Renton (Courtesy Photo CenterPoint Properties Inc.)

811 SW Grady Way, Renton (Courtesy Photo CenterPoint Properties Inc.)

CenterPoint acquires Renton warehouse as e-commerce grows

CenterPoint Properties, an industrial real estate management company that owns warehouses and distribution sites across the Puget Sound, acquired its first Renton facility at the end of 2020.

The facility on 811 SW Grady Way includes a nearly 40,000-square-foot building that only covers about 20 percent of the 4.39-acre property, according to the CenterPoint website.

Sites with excess yard space for parking are “extremely valuable” in the current industrial real estate market and are often the kind of facilities that e-commerce tenants target, said Evan Lippow, senior vice president of investments at CenterPoint Properties.

CenterPoint’s website also boasted the strategic value of the location, noting its close proximity to I-405, SR-167 and I-5, as well as it being located within 11 miles of both the Port of Seattle and Sea-Tac Airport.

According to a U.S. Census Bureau quarterly report from November 2020, e-commerce sales in the second and third quarters of 2020 were up by 44 percent and 36 percent when compared to the same quarters from the year before.

Lippow said that while a boost to e-commerce amid the pandemic was a factor that encouraged the company to invest in the Grady Way site in Renton, his company has been targeting real estate that appeals to e-commerce distributors for over a decade.

CenterPoint owns 25 industrial properties in the Puget Sound Region, ranging as far south as Sumner and as far north as Tukwila.




Talk to us

Please share your story tips by emailing editor@rentonreporter.com.

To share your opinion for publication, submit a letter through our website https://www.rentonreporter.com/submit-letter/. Include your name, address and daytime phone number. (We’ll only publish your name and hometown.) Please keep letters to 300 words or less.

More in Business

2021 Lexus RX 350L. Courtesy photo
Car review: 2021 Lexus RX 350L

By Larry Lark, contributor It’s always a good day when a Lexus… Continue reading

2021 Chevrolet Blazer. Courtesy photo
Car review: 2021 Chevrolet Blazer

By Larry Lark, contributor When it comes to certain car models they… Continue reading

The Cadillac CT4 is designed to appeal to a new generation of Cadillac buyers with its athletic design and astute driving dynamics. Courtesy photo
Car review: 2020 Cadillac CT4 Premium Luxury

By Larry Lark, contributor With apologies to Oldsmobile, “the 2020 CT4 Premium… Continue reading

2021 Mercedes E-350 luxury sedan. Courtesy photo
Car review: 2021 Mercedes E-350 luxury sedan

By Larry Lark, contributor Mercedes-Benz occupies rarified air in the automobile pantheon.… Continue reading

2021 Ford F-150 Platinum. Courtesy photo
Car review: 2021 Ford F-150 Platinum

By Larry Lark, contributor It’s always a call to action when a… Continue reading

Google Map view of the property at 811 SW Grady Way, Renton.
CenterPoint acquires Renton warehouse as e-commerce grows

CenterPoint Properties, an industrial real estate management company that owns warehouses and… Continue reading

737 MAX 7 Reveal - February 5, 2018. File photo
Boeing fined $2.5 billion for deceiving aircraft safety regulators

The Boeing Company has agreed to pay the Department of Justice over… Continue reading

Stock photo
State Department of Commerce awards grants to more than 7,800 small businesses

Newest $100 million grant round prioritized restaurants, fitness centers

Sound Publishing
Sound Publishing offers grants to local businesses

Sound Publishing has launched a local business stimulus program to help businesses… Continue reading

Photo courtesy of Fisher Scones
Fisher Scones parent company fined for overworking teenage employees

Washington State Department of Labor and Industries found more than 1,500 instances of violations including missing meal breaks, working during school hours and more.

Pexels photo
Ways to shop small on the Eastside

The city of Bellevue has developed a quick list of easy ways to support local businesses