South Sound Business
Davis Property & Investment, LLC has announced the sale of Commerce Business Center, Buildings A, and C, for $4.5 million. Commerce Business Center is a five-building complex in Lacey, WA located off Willamette Drive with a total of approximately 58,000 SF. Buildings 1-3 were sold to the Port of Olympia in 2017 for $6.5 million and now the sale of Buildings A and C complete the campus disposition for Davis Property & Investment. The buildings cover a 5-acre parcel and are zoned for light industrial uses, complete with a 20’ clear height and grade-level loading. “These are extremely high quality constructed buildings with an excellent tenant mix. Lacey has been a great submarket for us over the last 20 years. We are taking this opportunity in the market to recapitalize into the new ground-up development projects in Pierce and King County” said Jeff Davis, founder, and owner of DPI. DPI is an accomplished and experienced developer and asset manager of commercial real estate in the greater Puget Sound market. With strategic alliances among many of the region’s finest service providers, DPI’s development and management team ensures higher-than-average project success and performance. DPI currently manages commercial real estate assets from Seattle, WA to Portland, OR.