The purchase gives Lake Washington Partners over 1.6 million square feet of industrial space in the Dallas area, where Lott said the company is looking at two additional development projects.
Bellevue, WA-based Lake Washington Partners has staked a claim in one of the nation's top commercial real estate markets.
"The fundamentals of the Texas market are strong, with its low vacancy and strong support of the business community," Lott said. Lake Washington Partners owns three industrial assets in the Puget Sound region, according to its website, but doesn't anticipate growing that portfolio.
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