DuPont apartment site, mega-warehouse among top real estate deals this year
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- Trax Station at DuPont multifamily site sold to Jackson Square for $48 million.
- Frederickson West 281 mega-warehouse bought by TIAA for $41M.
- Pierce County 2025 top commercial sales led by REI distribution center, apartment assets.
Two recent commercial real estate transactions are among Pierce County’s top-priced sales of the year, with an apartment site and mega-warehouse sold just weeks apart.
Commercial real estate firm CBRE on Dec. 2 announced the sale of Trax at DuPont Station, 1430 Wilmington Dr. in DuPont, to a San Francisco-based investment entity.
The 179-multifamily unit site listed a gross selling price of $48 million in sales documents recorded Dec. 4 by Pierce County, making it the fourth highest-priced sale in the county so far this year.
Meanwhile, a mega-warehouse in the Frederickson area has sold to an East Coast LLC affiliated with a financial services firm that specializes in retirement services and investments.
The industrial site marketed as Frederickson West 281, 4417 192nd St. E., sold in November for just over $41 million by an LLC affiliated with Cabot Properties of Boston, which specializes in logistics real estate investments.
The sale ranks sixth among top sales so far for 2025 in the county.
According to data from the Pierce County Assessor-Treasurer’s Office, the top sale of the year remains the REI Sumner Distribution Center ($101.3 million), followed by the Lodge at Madrona apartments in South Tacoma ($83.4 million), Alderra Apartment Homes in Puyallup ($56.45 million), the DuPont Trax apartment sale, and a group of vacant Frederickson-area parcels ($45.5 million).
The Tacoma warehouse site’s rank slightly edged out the sale of Surprise Lake Square (also just over $41 million).
Trax at DuPont Station’s sale
CBRE in its release stated that the Trax apartment complex is one of three for-rent multifamily sites in DuPont’s Northwest Landing, a 3,000-acre master-planned community developed by Weyerhaeuser.
“High-quality multifamily assets in growth markets like DuPont have attracted strong investor demand,” said Eli Hanacek, vice chairman at CBRE, in a statement. “This core-plus asset offers value-add potential and has a unique combination of stable occupancy, strong demographics, and significant upside through interior renovations.”
Hanacek was part of CBRE’s Pacific Northwest Multifamily team that represented the seller, an LLC affiliated with Security Properties and RGA ReCap Incorporated (ReCap Real Estate Investments) on behalf of Reinsurance Group of America, Incorporated (RGA), in the transaction.
The buyer was an LLC affiliated with Jackson Square Properties of San Francisco. Its acquisition criteria on its website states, “Over the past 4 years, Jackson Square has actively looked to upgrade the quality of our portfolio with infill, institutional grade assets in Seattle, Portland, California, Salt Lake City, Denver, and Austin in sub-markets with barriers to entry.”
The apartments, constructed in 2012 and 2013, are assessed at nearly $50 million and are a mix of studio, one-, and two-bedroom townhomes and lofts across five buildings, according to CBRE. The site includes a renovated clubhouse, 24-hour fitness center, swimming pool and spa, basketball courts and rock climbing wall.
Jackson Square, which lists the DuPont site among its properties online, has a total of 26 sites across Washington-Oregon, including Ambrose apartments in Bremerton and Brookside Village apartments in Auburn.
The firm did not immediately respond to a request for comment on Thursday.
DuPont’s Trax is not connected to the Tacoma Trax apartment project in the city’s Dome District, which was foreclosed on mid-construction.
Frederickson West 281
Cabot acquired the mega-warehouse site in September 2020 for $12.2 million. The 281,181-square-foot building features “87 trailer stalls with the potential to add an additional 42 stalls,” according to an online project page by Avenue 55.
E-commerce business Spreetail is a tenant, using it as a fulfillment warehouse. About 99,500 square feet of warehouse space and 500 square feet of office space at the building has been advertised for subleasing.
The site, assessed at $36.9 million, is in the same area as Nucor Rebar Fabrication-Tacoma and James Hardie Auxillary Warehouse.
The buyer was an LLC affiliated with the Teachers Insurance and Annuity Association of America of New York. The entity includes real estate investment as part of its retirement financial management services for sectors including academics, health care, government and more via its asset manager subsidiary Nuveen.
A Nuveen representative listed with the LLC was unavailable for comment when contacted by The News Tribune.
Also last month, the same entities represented by LLCs were involved in an Auburn industrial/office site sale.
King County records show the LLC affiliated with Cabot sold 4620 B St. NW, Auburn to the LLC affiliated with TIAA for $13.4 million.
This story was originally published December 8, 2025 at 5:00 AM.
