{"id":7087,"date":"2025-01-21T13:29:21","date_gmt":"2025-01-21T21:29:21","guid":{"rendered":"https:\/\/www.lee-associates.com\/northwest\/?p=7087"},"modified":"2026-07-28T10:28:20","modified_gmt":"2026-07-28T17:28:20","slug":"case-study-1510-1616-st-paul-ave","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/","title":{"rendered":"Case Study &#8211; 1510 &amp; 1616 St. Paul Ave"},"content":{"rendered":"<div id=\"pl-7087\"  class=\"panel-layout\" ><div id=\"pg-7087-0\"  class=\"panel-grid panel-has-style\" ><div class=\"siteorigin-panels-stretch panel-row-style panel-row-style-for-7087-0\" data-stretch-type=\"full\" ><div class=\"so-panels-full-wrapper\" ><div id=\"pgc-7087-0-0\"  class=\"panel-grid-cell\" ><div id=\"panel-7087-0-0-0\" class=\"so-panel widget widget_sow-headline panel-first-child\" data-index=\"0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-headline so-widget-sow-headline-default-4776a67521a3-7087\"\n\t\t\t\n\t\t><div class=\"sow-headline-container \">\n\t\t\t\t\t\t\t<h1 class=\"sow-sub-headline\">\n\t\t\t\t\t\tStrategic Problem-Solving Secures a Prime Industrial Asset in Tacoma\t\t\t\t\t\t<\/h1>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"decoration\">\n\t\t\t\t\t\t<div class=\"decoration-inside\"><\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n<\/div><\/div><div id=\"panel-7087-0-0-1\" class=\"so-panel widget widget_sow-image panel-last-child\" data-index=\"1\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-image so-widget-sow-image-default-113ccd71f3e6-7087\"\n\t\t\t\n\t\t>\n<div class=\"sow-image-container\">\n\t\t<img \n\tsrc=\"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2025\/04\/Maritime-Manufacturing-768x576.jpg\" width=\"768\" height=\"576\" srcset=\"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2025\/04\/Maritime-Manufacturing-768x576.jpg 768w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2025\/04\/Maritime-Manufacturing-300x225.jpg 300w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2025\/04\/Maritime-Manufacturing-1024x768.jpg 1024w, https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2025\/04\/Maritime-Manufacturing.jpg 1280w\" sizes=\"(max-width: 768px) 100vw, 768px\" title=\"Maritime Manufacturing\" alt=\"\" \t\tclass=\"so-widget-image\"\/>\n\t<\/div>\n\n<\/div><\/div><\/div><\/div><\/div><\/div><div id=\"pg-7087-1\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-7087-1-0\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><div id=\"pgc-7087-1-1\"  class=\"panel-grid-cell\" ><div id=\"panel-7087-1-1-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"2\" ><div class=\"panel-widget-style panel-widget-style-for-7087-1-1-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h2><strong><span style=\"color: #009ad9\">OVERVIEW<\/span><\/strong><\/h2>\n<ul style=\"list-style-type: square\">\n<li>1510 &amp; 1616 St. Paul Ave, Tacoma, WA<\/li>\n<li class=\"p1\">Industrial Warehouse<\/li>\n<li>\u00b1 138,788 SF Total<\/li>\n<li>Buyer Representation<\/li>\n<li>Sale Price: $19,510,000 ($141 PSF)<\/li>\n<\/ul>\n<\/div>\n<\/div><\/div><\/div><\/div><div id=\"pgc-7087-1-2\"  class=\"panel-grid-cell panel-grid-cell-mobile-last\" ><div id=\"panel-7087-1-2-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"3\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h2><strong><span style=\"color: #009ad9\">THE CHALLENGE<\/span><\/strong><\/h2>\n<p>Lee &amp; Associates successfully represented SMARTCAP in their first Southend industrial acquisition\u2014a 138,788-square-foot warehouse in a highly competitive market. This property, located in an A+ core infill area in the Port of Tacoma, offered immediate access to the port, Interstate 5, and rail. Multiple offers were submitted due to the property\u2019s prime location and high demand for industrial assets. Differentiating the buyer\u2019s offer was essential to securing the deal.<\/p>\n<p>Environmental due diligence revealed potential contamination concerns, requiring further investigation into remediation costs and solutions. The seller\u2019s reluctance to provide concessions, combined with tight due diligence timelines, added pressure to resolve these issues efficiently.<\/p>\n<\/div>\n<\/div><\/div><\/div><div id=\"pgc-7087-1-3\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><\/div><div id=\"pg-7087-2\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-7087-2-0\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><div id=\"pgc-7087-2-1\"  class=\"panel-grid-cell panel-grid-cell-mobile-last\" ><div id=\"panel-7087-2-1-0\" class=\"so-panel widget widget_sow-editor panel-first-child\" data-index=\"4\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h2><strong><span style=\"color: #009ad9\">OUR APPROACH<\/span><\/strong><\/h2>\n<p>To differentiate SMARTCAP\u2019s offer, Lee &amp; Associates highlighted the buyer\u2019s strong track record and growth within the Puget Sound region. The team prioritized in-person meetings with the seller to emphasize SMARTCAP\u2019s commitment and long-term vision for the property, building trust and rapport.<\/p>\n<p>The team maintained open communication with all parties to address environmental concerns and foster collaboration. They negotiated with the seller to share remediation costs, leveraging consultant estimates to justify concessions. Additionally, Lee &amp; Associates partnered with a lending broker to secure optimal financing terms and worked with legal counsel to draft contingencies for environmental risks in the purchase agreement.<\/p>\n<\/div>\n<\/div><\/div><div id=\"panel-7087-2-1-1\" class=\"so-panel widget widget_sow-editor panel-last-child\" data-index=\"5\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h2><strong><span style=\"color: #009ad9\">THE OUTCOME<\/span><\/strong><\/h2>\n<p>SMARTCAP acquired the property at $500,000 less than the original agreed-upon price, with favorable terms that addressed the identified environmental concerns. Despite the complexities, the transaction closed within a reasonable timeline of less than eight months. The buyer secured a prime industrial asset with significant upside potential. The success of this transaction demonstrates the importance of collaboration among brokers, legal teams, and consultants in overcoming challenges and achieving a successful closing. This case underscores the value of strategic problem-solving and effective negotiation in navigating complex industrial real estate transactions.<\/p>\n<\/div>\n<\/div><\/div><\/div><div id=\"pgc-7087-2-2\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><\/div><div id=\"pg-7087-3\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-7087-3-0\"  class=\"panel-grid-cell\" ><div id=\"panel-7087-3-0-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"6\" ><div class=\"panel-widget-style panel-widget-style-for-7087-3-0-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p><em>For more information regarding this case study, please contact:<\/em><\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div><div id=\"pg-7087-4\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-7087-4-0\"  class=\"panel-grid-cell\" ><div id=\"panel-7087-4-0-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"7\" ><div class=\"panel-widget-style panel-widget-style-for-7087-4-0-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p><span style=\"color: #003146\"><strong>ANDREW HULL<\/strong><\/span><br \/>\nSenior Vice President<strong><br \/>\n<\/strong><em>Lee &amp; Associates <\/em><em>Pacific Northwest<br \/>\n<\/em>D\u00a0 253.444.3023<br \/>\nahull@lee-associates.com<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><div id=\"pgc-7087-4-1\"  class=\"panel-grid-cell\" ><div id=\"panel-7087-4-1-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"8\" ><div class=\"panel-widget-style panel-widget-style-for-7087-4-1-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p><span style=\"color: #003146\"><strong>CHRISTIAN MATTSON<\/strong>, SIOR<\/span><br \/>\nPrincipal<strong><br \/>\n<\/strong><em>Lee &amp; Associates <\/em><em>Pacific Northwest<br \/>\n<\/em>D\u00a0 253.444.3021<br \/>\ncmattson@lee-associates.com<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><div id=\"pgc-7087-4-2\"  class=\"panel-grid-cell\" ><div id=\"panel-7087-4-2-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"9\" ><div class=\"panel-widget-style panel-widget-style-for-7087-4-2-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p><span style=\"color: #003146\"><b>CHRIS PETERSON<\/b>, SIOR, CCIM<\/span><br \/>\nPrincipal<br \/>\n<em>Lee &amp; Associates <\/em><em>Pacific Northwest<br \/>\n<\/em>D\u00a0 206.773.2678<br \/>\ncpeterson@lee-associates.com<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><div id=\"pgc-7087-4-3\"  class=\"panel-grid-cell\" ><div id=\"panel-7087-4-3-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"10\" ><div class=\"panel-widget-style panel-widget-style-for-7087-4-3-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p><span style=\"color: #003146\"><b>BILLY MOULTRIE<\/b><\/span><br \/>\nPrincipal<br \/>\n<em>Lee &amp; Associates <\/em><em>Pacific Northwest<br \/>\n<\/em>D\u00a0 253.444.3022<br \/>\nbmoultrie@lee-associates.com<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div><div id=\"pg-7087-5\"  class=\"panel-grid panel-has-style\" ><div class=\"siteorigin-panels-stretch panel-row-style panel-row-style-for-7087-5\" id=\"blog\" data-stretch-type=\"full\" ><div class=\"so-panels-full-wrapper\" ><div id=\"pgc-7087-5-0\"  class=\"panel-grid-cell\" ><div id=\"panel-7087-5-0-0\" class=\"so-panel widget widget_sow-headline panel-first-child\" data-index=\"11\" ><div class=\"panel-widget-style panel-widget-style-for-7087-5-0-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-headline so-widget-sow-headline-default-f8d8efd972d8-7087 so-widget-fittext-wrapper\"\n\t\t\t data-fit-text-compressor=\"0\"\n\t\t><div class=\"sow-headline-container \">\n\t\t\t\t\t\t\t<h4 class=\"sow-headline\">\n\t\t\t\t\t\t<b>NEW<\/b> FROM THE MEDIA CENTER...\t\t\t\t\t\t<\/h4>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"decoration\">\n\t\t\t\t\t\t<div class=\"decoration-inside\"><\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n<\/div><\/div><\/div><div id=\"panel-7087-5-0-1\" class=\"so-panel widget widget_sow-post-carousel panel-last-child\" data-index=\"12\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-post-carousel so-widget-sow-post-carousel-base-ad93eedad001-7087\"\n\t\t\t\n\t\t>\t<div\n\t\tclass=\"sow-post-carousel-wrapper sow-post-carousel-theme-base\"\n\t\tstyle=\"overflow: hidden; max-width: 100%; min-height: 182px\"\n\t>\n\t\t<div class=\"sow-carousel-title\">\n\t\t\t<div class=\"sow-carousel-navigation \">\n\t\t\t\t\t\t<a href=\"#\" class=\"sow-carousel-next\" title=\"Next\" aria-label=\"Next Posts\" role=\"button\"><\/a>\n\t\t\t\t\t\t<a href=\"#\" class=\"sow-carousel-previous\" title=\"Previous\" aria-label=\"Previous Posts\" role=\"button\"><\/a>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\n<div class=\"sow-carousel-container \">\n\t\t<div class=\"sow-carousel-wrapper\"\n\t\tdata-dir=\"ltr\"\n\t\tstyle=\"opacity: 0;\"\n\t\tdata-widget=\"post\" data-fetching=\"false\" data-page=\"1\" data-ajax-url=\"https:\/\/www.lee-associates.com\/northwest\/wp-admin\/admin-ajax.php?_widgets_nonce=f0d415f8ea\" data-item_count=\"244\" data-carousel_settings=\"{&quot;loop&quot;:true,&quot;animation&quot;:&quot;Ease&quot;,&quot;animation_speed&quot;:400,&quot;autoplay&quot;:&quot;&quot;,&quot;pauseOnHover&quot;:&quot;&quot;,&quot;autoplaySpeed&quot;:8000,&quot;item_overflow&quot;:true,&quot;autoplay_continuous_scroll&quot;:false}\" data-responsive=\"{&quot;desktop_slides_to_scroll&quot;:1,&quot;tablet_landscape_breakpoint&quot;:1366,&quot;tablet_landscape_slides_to_scroll&quot;:2,&quot;tablet_portrait_breakpoint&quot;:1025,&quot;tablet_portrait_slides_to_scroll&quot;:2,&quot;mobile_breakpoint&quot;:480,&quot;mobile_slides_to_scroll&quot;:1}\" data-variable_width=\"true\" \t>\n\t\t<div\n\t\t\tclass=\"sow-carousel-items\"\n\t\t\t\t\t>\n\t\t\t\t<div class=\"sow-carousel-item\" tabindex=\"-1\" style=\"float: left;\">\n\t\t<div class=\"sow-carousel-thumbnail\">\n\t\t\t\t\t\t\t<a\n\t\t\t\t\thref=\"https:\/\/www.lee-associates.com\/northwest\/2026\/09\/17\/q2-2026-office-market-report-2\/\"\n\t\t\t\t\t\t\t\t\t\tstyle=\"background-image: url( https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2026\/09\/Office-Market-Report-Featured-Image-272x182.png )\"\n\t\t\t\t\taria-labelledby=\"sow-carousel-id-9329\"\n\t\t\t\t\ttabindex=\"-1\"\n\t\t\t\t>\n\t\t\t\t\t<span class=\"overlay\"><\/span>\n\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t<h3 class=\"sow-carousel-item-title\">\n\t\t\t<a\n\t\t\t\thref=\"https:\/\/www.lee-associates.com\/northwest\/2026\/09\/17\/q2-2026-office-market-report-2\/\"\n\t\t\t\tid=\"sow-carousel-id-9329\"\n\t\t\t\t\t\t\t\ttabindex=\"-1\"\n\t\t\t>\n\n\t\t\t\tQ2 2026 Office Market Report\t\t\t<\/a>\n\t\t<\/h3>\n\t<\/div>\n\t\t<div class=\"sow-carousel-item\" tabindex=\"-1\" style=\"float: left;\">\n\t\t<div class=\"sow-carousel-thumbnail\">\n\t\t\t\t\t\t\t<a\n\t\t\t\t\thref=\"https:\/\/www.lee-associates.com\/northwest\/2026\/09\/16\/q2-2026-office-market-report\/\"\n\t\t\t\t\t\t\t\t\t\tstyle=\"background-image: url( https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2026\/09\/Retail-Market-Report-Featured-Image-272x182.png )\"\n\t\t\t\t\taria-labelledby=\"sow-carousel-id-9318\"\n\t\t\t\t\ttabindex=\"-1\"\n\t\t\t\t>\n\t\t\t\t\t<span class=\"overlay\"><\/span>\n\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t<h3 class=\"sow-carousel-item-title\">\n\t\t\t<a\n\t\t\t\thref=\"https:\/\/www.lee-associates.com\/northwest\/2026\/09\/16\/q2-2026-office-market-report\/\"\n\t\t\t\tid=\"sow-carousel-id-9318\"\n\t\t\t\t\t\t\t\ttabindex=\"-1\"\n\t\t\t>\n\n\t\t\t\tQ2 2026 Retail Market Report\t\t\t<\/a>\n\t\t<\/h3>\n\t<\/div>\n\t\t<div class=\"sow-carousel-item\" tabindex=\"-1\" style=\"float: left;\">\n\t\t<div class=\"sow-carousel-thumbnail\">\n\t\t\t\t\t\t\t<a\n\t\t\t\t\thref=\"https:\/\/www.lee-associates.com\/northwest\/2026\/09\/16\/q2-2026-industrial-market-report\/\"\n\t\t\t\t\t\t\t\t\t\tstyle=\"background-image: url( https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2026\/09\/Industrial-Market-Report-Featured-Image-272x182.png )\"\n\t\t\t\t\taria-labelledby=\"sow-carousel-id-9315\"\n\t\t\t\t\ttabindex=\"-1\"\n\t\t\t\t>\n\t\t\t\t\t<span class=\"overlay\"><\/span>\n\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t<h3 class=\"sow-carousel-item-title\">\n\t\t\t<a\n\t\t\t\thref=\"https:\/\/www.lee-associates.com\/northwest\/2026\/09\/16\/q2-2026-industrial-market-report\/\"\n\t\t\t\tid=\"sow-carousel-id-9315\"\n\t\t\t\t\t\t\t\ttabindex=\"-1\"\n\t\t\t>\n\n\t\t\t\tQ2 2026 Industrial Market Report\t\t\t<\/a>\n\t\t<\/h3>\n\t<\/div>\n\t\t<div class=\"sow-carousel-item\" tabindex=\"-1\" style=\"float: left;\">\n\t\t<div class=\"sow-carousel-thumbnail\">\n\t\t\t\t\t\t\t<a\n\t\t\t\t\thref=\"https:\/\/www.lee-associates.com\/northwest\/2026\/09\/16\/q2-2026-multifamily-market-report\/\"\n\t\t\t\t\t\t\t\t\t\tstyle=\"background-image: url( https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2026\/09\/Multifamily-Market-Report-Featured-Image-272x182.png )\"\n\t\t\t\t\taria-labelledby=\"sow-carousel-id-9305\"\n\t\t\t\t\ttabindex=\"-1\"\n\t\t\t\t>\n\t\t\t\t\t<span class=\"overlay\"><\/span>\n\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t<h3 class=\"sow-carousel-item-title\">\n\t\t\t<a\n\t\t\t\thref=\"https:\/\/www.lee-associates.com\/northwest\/2026\/09\/16\/q2-2026-multifamily-market-report\/\"\n\t\t\t\tid=\"sow-carousel-id-9305\"\n\t\t\t\t\t\t\t\ttabindex=\"-1\"\n\t\t\t>\n\n\t\t\t\tQ2 2026 Multifamily Market Report\t\t\t<\/a>\n\t\t<\/h3>\n\t<\/div>\n\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t<\/div>\n\t\t<input type=\"hidden\" name=\"instance_hash\" value=\"aabfe4c4\"\/>\n\t<\/div>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>OVERVIEW 1510 &amp; 1616 St. Paul Ave, Tacoma, WA Industrial Warehouse \u00b1 138,788 SF Total Buyer Representation Sale Price: $19,510,000 ($141 PSF) THE CHALLENGE Lee &amp; Associates successfully represented SMARTCAP in their first Southend industrial acquisition\u2014a 138,788-square-foot warehouse in a highly competitive market. This property, located in an A+ core infill area in the Port of Tacoma, offered immediate access to the port, Interstate 5, and rail. Multiple offers were submitted due to the property\u2019s&#8230;<\/p>\n","protected":false},"author":244,"featured_media":7098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[843,1084,1184],"tags":[1112,1110,1090,1102,1109],"class_list":["post-7087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-study","category-industrial","category-tacoma","tag-andrew-hull","tag-billy-moultrie","tag-case-study","tag-chris-peterson","tag-christian-mattson"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.6 (Yoast SEO v28.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Case Study - 1510 &amp; 1616 St. Paul Ave - Lee &amp; Associates Pacific Northwest<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Case Study - 1510 &amp; 1616 St. Paul Ave\" \/>\n<meta property=\"og:description\" content=\"OVERVIEW 1510 &amp; 1616 St. Paul Ave, Tacoma, WA Industrial Warehouse \u00b1 138,788 SF Total Buyer Representation Sale Price: $19,510,000 ($141 PSF) THE CHALLENGE Lee &amp; Associates successfully represented SMARTCAP in their first Southend industrial acquisition\u2014a 138,788-square-foot warehouse in a highly competitive market. This property, located in an A+ core infill area in the Port of Tacoma, offered immediate access to the port, Interstate 5, and rail. Multiple offers were submitted due to the property\u2019s...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/\" \/>\n<meta property=\"og:site_name\" content=\"Lee &amp; Associates Pacific Northwest\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/nwleeassociates\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-21T21:29:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-07-28T17:28:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2025\/01\/Case-Study-Buttons.png\" \/>\n\t<meta property=\"og:image:width\" content=\"924\" \/>\n\t<meta property=\"og:image:height\" content=\"627\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"sthomson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@NWLeeAssociates\" \/>\n<meta name=\"twitter:site\" content=\"@NWLeeAssociates\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"sthomson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2025\\\/01\\\/21\\\/case-study-1510-1616-st-paul-ave\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2025\\\/01\\\/21\\\/case-study-1510-1616-st-paul-ave\\\/\"},\"author\":{\"name\":\"sthomson\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/#\\\/schema\\\/person\\\/931b1b7e88eab37109aec4c62a449a56\"},\"headline\":\"Case Study &#8211; 1510 &amp; 1616 St. Paul Ave\",\"datePublished\":\"2025-01-21T21:29:21+00:00\",\"dateModified\":\"2026-07-28T17:28:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2025\\\/01\\\/21\\\/case-study-1510-1616-st-paul-ave\\\/\"},\"wordCount\":906,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2025\\\/01\\\/21\\\/case-study-1510-1616-st-paul-ave\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/wp-content\\\/uploads\\\/sites\\\/74\\\/2025\\\/01\\\/Case-Study-Buttons.png\",\"keywords\":[\"andrew hull\",\"billy moultrie\",\"case study\",\"chris peterson\",\"christian mattson\"],\"articleSection\":[\"Case Study\",\"Industrial\",\"Tacoma\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2025\\\/01\\\/21\\\/case-study-1510-1616-st-paul-ave\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2025\\\/01\\\/21\\\/case-study-1510-1616-st-paul-ave\\\/\",\"url\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2025\\\/01\\\/21\\\/case-study-1510-1616-st-paul-ave\\\/\",\"name\":\"Case Study - 1510 &amp; 1616 St. Paul Ave - Lee &amp; Associates Pacific Northwest\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2025\\\/01\\\/21\\\/case-study-1510-1616-st-paul-ave\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2025\\\/01\\\/21\\\/case-study-1510-1616-st-paul-ave\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/wp-content\\\/uploads\\\/sites\\\/74\\\/2025\\\/01\\\/Case-Study-Buttons.png\",\"datePublished\":\"2025-01-21T21:29:21+00:00\",\"dateModified\":\"2026-07-28T17:28:20+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2025\\\/01\\\/21\\\/case-study-1510-1616-st-paul-ave\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2025\\\/01\\\/21\\\/case-study-1510-1616-st-paul-ave\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2025\\\/01\\\/21\\\/case-study-1510-1616-st-paul-ave\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/wp-content\\\/uploads\\\/sites\\\/74\\\/2025\\\/01\\\/Case-Study-Buttons.png\",\"contentUrl\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/wp-content\\\/uploads\\\/sites\\\/74\\\/2025\\\/01\\\/Case-Study-Buttons.png\",\"width\":924,\"height\":627},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/2025\\\/01\\\/21\\\/case-study-1510-1616-st-paul-ave\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Case Study &#8211; 1510 &amp; 1616 St. Paul Ave\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/#website\",\"url\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/\",\"name\":\"Lee &amp; Associates Pacific Northwest\",\"description\":\"Serving Puget Sound and Greater Washington\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/#organization\",\"name\":\"Lee & Associates Commercial Real Estate Services, LLC\",\"url\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/wp-content\\\/uploads\\\/sites\\\/74\\\/2022\\\/06\\\/2017_Lee_Logo_Full-Color.png\",\"contentUrl\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/wp-content\\\/uploads\\\/sites\\\/74\\\/2022\\\/06\\\/2017_Lee_Logo_Full-Color.png\",\"width\":1160,\"height\":521,\"caption\":\"Lee & Associates Commercial Real Estate Services, LLC\"},\"image\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/nwleeassociates\\\/\",\"https:\\\/\\\/x.com\\\/NWLeeAssociates\",\"https:\\\/\\\/www.instagram.com\\\/leeassociatesnw\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/#\\\/schema\\\/person\\\/931b1b7e88eab37109aec4c62a449a56\",\"name\":\"sthomson\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/3d56615cf65d22dd8974d19ec4a500ed96d0099c9e1cd8122ba18d99c81f2370?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/3d56615cf65d22dd8974d19ec4a500ed96d0099c9e1cd8122ba18d99c81f2370?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/3d56615cf65d22dd8974d19ec4a500ed96d0099c9e1cd8122ba18d99c81f2370?s=96&d=mm&r=g\",\"caption\":\"sthomson\"},\"url\":\"https:\\\/\\\/www.lee-associates.com\\\/northwest\\\/author\\\/sthomson\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Case Study - 1510 &amp; 1616 St. Paul Ave - Lee &amp; Associates Pacific Northwest","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/","og_locale":"en_US","og_type":"article","og_title":"Case Study - 1510 &amp; 1616 St. Paul Ave","og_description":"OVERVIEW 1510 &amp; 1616 St. Paul Ave, Tacoma, WA Industrial Warehouse \u00b1 138,788 SF Total Buyer Representation Sale Price: $19,510,000 ($141 PSF) THE CHALLENGE Lee &amp; Associates successfully represented SMARTCAP in their first Southend industrial acquisition\u2014a 138,788-square-foot warehouse in a highly competitive market. This property, located in an A+ core infill area in the Port of Tacoma, offered immediate access to the port, Interstate 5, and rail. Multiple offers were submitted due to the property\u2019s...","og_url":"https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/","og_site_name":"Lee &amp; Associates Pacific Northwest","article_publisher":"https:\/\/www.facebook.com\/nwleeassociates\/","article_published_time":"2025-01-21T21:29:21+00:00","article_modified_time":"2026-07-28T17:28:20+00:00","og_image":[{"width":924,"height":627,"url":"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2025\/01\/Case-Study-Buttons.png","type":"image\/png"}],"author":"sthomson","twitter_card":"summary_large_image","twitter_creator":"@NWLeeAssociates","twitter_site":"@NWLeeAssociates","twitter_misc":{"Written by":"sthomson","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/#article","isPartOf":{"@id":"https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/"},"author":{"name":"sthomson","@id":"https:\/\/www.lee-associates.com\/northwest\/#\/schema\/person\/931b1b7e88eab37109aec4c62a449a56"},"headline":"Case Study &#8211; 1510 &amp; 1616 St. Paul Ave","datePublished":"2025-01-21T21:29:21+00:00","dateModified":"2026-07-28T17:28:20+00:00","mainEntityOfPage":{"@id":"https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/"},"wordCount":906,"commentCount":0,"publisher":{"@id":"https:\/\/www.lee-associates.com\/northwest\/#organization"},"image":{"@id":"https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/#primaryimage"},"thumbnailUrl":"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2025\/01\/Case-Study-Buttons.png","keywords":["andrew hull","billy moultrie","case study","chris peterson","christian mattson"],"articleSection":["Case Study","Industrial","Tacoma"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/","url":"https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/","name":"Case Study - 1510 &amp; 1616 St. Paul Ave - Lee &amp; Associates Pacific Northwest","isPartOf":{"@id":"https:\/\/www.lee-associates.com\/northwest\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/#primaryimage"},"image":{"@id":"https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/#primaryimage"},"thumbnailUrl":"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2025\/01\/Case-Study-Buttons.png","datePublished":"2025-01-21T21:29:21+00:00","dateModified":"2026-07-28T17:28:20+00:00","breadcrumb":{"@id":"https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/#primaryimage","url":"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2025\/01\/Case-Study-Buttons.png","contentUrl":"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2025\/01\/Case-Study-Buttons.png","width":924,"height":627},{"@type":"BreadcrumbList","@id":"https:\/\/www.lee-associates.com\/northwest\/2025\/01\/21\/case-study-1510-1616-st-paul-ave\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.lee-associates.com\/northwest\/"},{"@type":"ListItem","position":2,"name":"Case Study &#8211; 1510 &amp; 1616 St. Paul Ave"}]},{"@type":"WebSite","@id":"https:\/\/www.lee-associates.com\/northwest\/#website","url":"https:\/\/www.lee-associates.com\/northwest\/","name":"Lee &amp; Associates Pacific Northwest","description":"Serving Puget Sound and Greater Washington","publisher":{"@id":"https:\/\/www.lee-associates.com\/northwest\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.lee-associates.com\/northwest\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.lee-associates.com\/northwest\/#organization","name":"Lee & Associates Commercial Real Estate Services, LLC","url":"https:\/\/www.lee-associates.com\/northwest\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.lee-associates.com\/northwest\/#\/schema\/logo\/image\/","url":"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2022\/06\/2017_Lee_Logo_Full-Color.png","contentUrl":"https:\/\/www.lee-associates.com\/northwest\/wp-content\/uploads\/sites\/74\/2022\/06\/2017_Lee_Logo_Full-Color.png","width":1160,"height":521,"caption":"Lee & Associates Commercial Real Estate Services, LLC"},"image":{"@id":"https:\/\/www.lee-associates.com\/northwest\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/nwleeassociates\/","https:\/\/x.com\/NWLeeAssociates","https:\/\/www.instagram.com\/leeassociatesnw"]},{"@type":"Person","@id":"https:\/\/www.lee-associates.com\/northwest\/#\/schema\/person\/931b1b7e88eab37109aec4c62a449a56","name":"sthomson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/3d56615cf65d22dd8974d19ec4a500ed96d0099c9e1cd8122ba18d99c81f2370?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/3d56615cf65d22dd8974d19ec4a500ed96d0099c9e1cd8122ba18d99c81f2370?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d56615cf65d22dd8974d19ec4a500ed96d0099c9e1cd8122ba18d99c81f2370?s=96&d=mm&r=g","caption":"sthomson"},"url":"https:\/\/www.lee-associates.com\/northwest\/author\/sthomson\/"}]}},"_links":{"self":[{"href":"https:\/\/www.lee-associates.com\/northwest\/wp-json\/wp\/v2\/posts\/7087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lee-associates.com\/northwest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lee-associates.com\/northwest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lee-associates.com\/northwest\/wp-json\/wp\/v2\/users\/244"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lee-associates.com\/northwest\/wp-json\/wp\/v2\/comments?post=7087"}],"version-history":[{"count":9,"href":"https:\/\/www.lee-associates.com\/northwest\/wp-json\/wp\/v2\/posts\/7087\/revisions"}],"predecessor-version":[{"id":7097,"href":"https:\/\/www.lee-associates.com\/northwest\/wp-json\/wp\/v2\/posts\/7087\/revisions\/7097"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lee-associates.com\/northwest\/wp-json\/wp\/v2\/media\/7098"}],"wp:attachment":[{"href":"https:\/\/www.lee-associates.com\/northwest\/wp-json\/wp\/v2\/media?parent=7087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lee-associates.com\/northwest\/wp-json\/wp\/v2\/categories?post=7087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lee-associates.com\/northwest\/wp-json\/wp\/v2\/tags?post=7087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}