Key Takeaways
- • Ares Management acquired the redeveloped Tacoma Central Logistics property for $55 million in a transaction recorded August 12, 2026, representing one of three Pierce County industrial sales exceeding $50 million year-to-date.
- • The 13-acre former Tacoma News Tribune printing plant has been fully leased to Moose Toys, a global toy company, providing stable tenant occupancy for the new owner.
- • The property represents a significant value appreciation trajectory, having previously sold for $15.5 million before redevelopment, now trading at 3.5x the prior acquisition price.
- • A Denver LLC affiliated with Ares Management executed the purchase, signaling institutional capital interest in Pacific Northwest industrial logistics assets amid rising e-commerce and supply chain infrastructure demand.
Summary
Ares Management completed a $55 million acquisition of the Tacoma Central Logistics building on August 12, 2026, marking a major transaction in the Pacific Northwest industrial real estate market. The 13-acre property, formerly the historic Tacoma News Tribune printing plant, has been fully redeveloped and leased to Moose Toys, a global toy manufacturer, providing institutional-grade tenant stability for the new owner.
The transaction underscores significant value creation through adaptive reuse and repositioning. The site previously sold for $15.5 million before redevelopment, indicating a 3.5x appreciation over the development cycle. This pricing trajectory reflects strong market demand for modern, fully-leased industrial logistics facilities in the Puget Sound region, particularly those positioned for West Coast supply chain operations.
The deal ranks as one of only three Pierce County industrial properties to trade above the $50 million threshold in 2026, highlighting the relative scarcity of large-scale, institutional-quality industrial assets in the region. The buyer's selection of a Denver-based LLC as the acquisition vehicle is typical of institutional capital structuring for real estate holdings, potentially indicating long-term hold strategies common among Ares Management's core real estate portfolio approach.
The property's conversion from newspaper printing operations to modern logistics use reflects broader trends in adaptive reuse across secondary Pacific Northwest markets, where aging industrial properties are being recaptured for supply chain and fulfillment functions serving regional and national distribution networks.
The transaction underscores significant value creation through adaptive reuse and repositioning. The site previously sold for $15.5 million before redevelopment, indicating a 3.5x appreciation over the development cycle. This pricing trajectory reflects strong market demand for modern, fully-leased industrial logistics facilities in the Puget Sound region, particularly those positioned for West Coast supply chain operations.
The deal ranks as one of only three Pierce County industrial properties to trade above the $50 million threshold in 2026, highlighting the relative scarcity of large-scale, institutional-quality industrial assets in the region. The buyer's selection of a Denver-based LLC as the acquisition vehicle is typical of institutional capital structuring for real estate holdings, potentially indicating long-term hold strategies common among Ares Management's core real estate portfolio approach.
The property's conversion from newspaper printing operations to modern logistics use reflects broader trends in adaptive reuse across secondary Pacific Northwest markets, where aging industrial properties are being recaptured for supply chain and fulfillment functions serving regional and national distribution networks.
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