|By Marketwired .||
|December 20, 2013 03:00 PM EST||
GLENDALE, CA -- (Marketwired) -- 12/20/13 -- American Realty Advisors, a leading provider of real estate investment management services for institutional investors, announced the acquisition of Rainier Park of Industry Building 3 (RPI3), one of ten industrial facilities in Rainier Park of Industry.
Built in 2003, Rainer Park of Industry Building 3 is a 234,750 sf Class A warehouse building located along Highway 167 with close proximity to the Ports of Tacoma and Seattle, excellent freeway access and visibility, and well located within the Kent Valley. The property is a 400' deep, cross dock loaded, state-of-the-art distribution center with ample loading doors and dedicated trailer parking. Two units have private fenced-in outdoor areas and the larger unit has dedicated excess trailer parking. Other attractive features include 140' average truck depths, concrete truck aprons, 30' minimum clear height ceilings, ESFR sprinkler systems, excellent car parking ratio, and varied unit sizes of 30,000 square feet, 50,000 square feet, and 150,000 square feet. The property is currently 100% leased.
American's Chairman and CEO, Stanley L. Iezman, stated, "American's decision to purchase Rainier Industry Park of Industry Building 3 is consistent with part of our investment strategy to target industrial properties in major metro markets, and to capitalize on the strengthening rent and occupancy growth in this late-recovering property type. This acquisition further demonstrates how American's experienced investment professionals utilize our nationwide network to identify and acquire quality investment opportunities on behalf of our clients."
About American Realty Advisors
American is an investment advisor and a leading provider of real estate investment management services to institutional investors. With over $5.8 billion in assets under management, American has provided real estate investment management services to institutional investors for over 25 years utilizing core and value-added commingled funds and separate accounts. The firm's portfolios include office, industrial, multi-family, retail, and other properties nationwide, all of which are managed on behalf of American's clients.
More information regarding American can be found at www.americanreal.com
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