A massive 782,875‑square‑foot warehouse at the FRED310 industrial campus in Frederickson has changed hands, with Bridge Logistics Properties paying just under $175 million for the brand‑new facility. The bulk distribution building, completed in 2024 and preleased to national tool retailer Harbor Freight, sits on former Boeing land developed by Panattoni and signals that big‑ticket investors are still hungry for modern logistics space near the Port of Tacoma and Interstate 5.
Deal details
According to CoStar, Bridge Logistics Properties paid $174.5 million for FRED310’s Building E at 6920 192nd St E in Puyallup. CoStar notes that the transaction ranks as one of the Puget Sound region’s largest industrial sales so far this year and that the property was completed in 2024 by Panattoni.
Built for Harbor Freight
FRED310 was developed by Panattoni and a fund advised by Crow Holdings, with Building E tailored for Harbor Freight’s operations. The developer lists Building E at roughly 782,875 square feet. As outlined by Panattoni, construction on the building began in late 2023, as part of a phased rollout delivering new warehouse space in Frederickson.
Public records show tenant work
Pierce County permit filings for 6920 192nd St E show multiple tenant‑improvement and site permits tied to “Harbor Freight, Bldg E,” according to a permit report posted by the Daily Journal of Commerce. The county’s FRED310 project page also lists the parcel numbers tied to the multi‑building campus and details the phased approvals for the development, with the public filings and parcel references available through the Pierce County project page.
Why the project matters
This latest trade follows other major investor moves at FRED310. Building D sold last year in a deal that sources pegged at about $176 million, signaling that institutional capital is circling the campus for scarce, modern distribution blocks in the region. Local reporting by The News Tribune and the project’s marketing brochure show FRED310 spans roughly 310 acres and could grow to as much as 4 million square feet, making it a rare large‑site logistics play in Pierce County.
Buyer profile
Bridge Logistics Properties has been steadily assembling a nationwide portfolio of logistics assets and operates a growing slate of properties, according to the firm’s website. Scooping up FRED310’s Building E adds another institutional owner to the fast‑evolving Frederickson corridor and highlights that buyer demand for large, modern distribution centers remains strong despite broader commercial real estate headwinds.
