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Greystone acquires Phase II of Seattle corporate park.

Greystone Realty Corporation, one of the country's largest real estate advisors, has completed its acquisition of Kent East Corporate Park, a nine building industrial park located in the Seattle, Washington, metropolitan area on behalf of New York Life Insurance Company.

Greystone's recent acquisition involves Phase II of Kent East Corporate Park. Last fall, Greystone acquired Phase I of the 803,544-square-foot complex from developer Trammel Crow Company of Seattle, which will continue to provide leasing and management services for the project. Terms of the transaction were not disclosed.

Construction of Phase II was completed in late fall 1991, and is 74 percent leased, bringing the project's total occupancy to 92 percent, according to Charles J. Lauckhardt, senior vice president in Greystone's Greenwich, Connecticut, office. Phase I, which was completed in mid-summer 1991 is 100 percent occupied.

Of the nine buildings in the complex, seven are traditional bulk distribution warehouses; the two other buildings are zoned as retail properties and are intended for warehouse/showroom use. Located 17 miles south of Seattle in the Green River Valley, Kent East Corporate Park fronts the East Valley Highway between 212th and 218th Streets in the city of Kent, Washington.
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Title Annotation:Greystone Realty Corp., Kent East Corporate Park
Publication:Real Estate Weekly
Article Type:Brief Article
Date:Feb 19, 1992
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