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Lincoln Logistics Fund II buys 275,000-square-foot Puyallup industrial campus
The acquisition marks the fund’s third deal, and Lincoln tapped JLL as exclusive leasing agent for a targeted push at advanced manufacturing, aerospace, logistics, and distribution tenants.
Lincoln Property Company’s Logistics Fund II has acquired Canyon Road Commerce Center, a 275,000-square-foot industrial campus in Pierce County, Washington, according to ConnectCRE.
As part of the transaction, Lincoln appointed JLL as the property’s exclusive leasing agent and launched a leasing initiative aimed at attracting advanced manufacturing, aerospace, logistics, and distribution users across the South Sound.
ConnectCRE said Canyon Road is located at 5103 136th Street E. in Puyallup and was acquired from Trammell Crow Company and an affiliate of CBRE Investment Management.
ConnectCRE also reported the campus is the third acquisition for Lincoln Logistics Fund II, which has secured more than $280 million in capital commitments from two institutional investors, alongside Stone Point Capital and Lincoln employees. Leasing leadership will be handled by JLL’s Chris Spofford, Bill Honsaker, Scott Carter, and David Cahill.