MCA Realty has acquired a three-building, 138,296-square-foot multi-tenant industrial portfolio in Kent, Wash. The assets traded for a total of about $20.6 million, according to Yardi Matrix, and the seller was Westcore Properties.
The move came as part of MCA Realty’s Industrial Growth Fund II. The new owner plans to make significant exterior and interior renovations.
The buildings traded for $9.9 million and $10.7 million respectively. The deal brings MCA’s Seattle-area industrial portfolio to 268,843 square feet.
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Built in 1978, the two buildings at 19026-19042 72nd Avenue South feature 14- to 30-foot clear heights and 1.5/1,000 parking. They are currently 76 percent leased to four tenants.
The adjacent building at 19030 West Valley Highway, also built in 1978, features a 24-foot clear height, 10 dock-high doors and two grade-level doors. It is 38 percent leased.
The assets offer access to Interstates 5 and 405, along with Washington State Route 167, as well as the Ports of Seattle and Tacoma and Seattle-Tacoma International Airport.
The three buildings can accommodate a range of users from 4,000 square feet to 40,000 square feet, with Newmark tasked to oversee leasing at the property. Newmark Executive Managing Director Andrew Briner, Associate Director Aaron Banks and Co-Head of U.S. Capital Markets Kevin Shannon represented both MCA Realty and the seller in the transaction.
Supply takes its toll in Seattle
Demand softened in the first quarter of 2026, with net absorption of Seattle-area industrial at a negative 542,107 square feet, and total availability rising to 12.8 percent, up from 10.4 percent at the start of 2025, according to Newmark data.
Development continued to outpace tenant demand across the region, with speculative deliveries pushing the Puget Sound total vacancy rate to 9.7 percent, up from 7.9 percent during the first quarter of 2025.
However, MCA Realty Principal Tyler Mattox said in a statement that he predicts the Kent Valley market—along with the greater Seattle region—will benefit from future rental growth and constrained new industrial supply.
And investors are on the hunt in the market, especially for value-add properties. Late last year, Terreno Realty Corp. paid $27.1 million for a 121,000-square-foot warehouse in Tukwila, Wash. One company fully leases the building until early 2027. Upon termination, Terreno plans to renovate the property and market it for one to four tenants.