Ashley Furniture Industries paid $33.89 million for a 202,000-square-foot warehouse off State Route 512, just four months after selling its much larger Spanaway distribution center to Amazon for nearly $200 million.
The sale, recorded Monday, Aug. 10, puts the Wisconsin-based furniture giant into Bridge Point Tacoma 210 at 10922 34th Ave. E., a newly built facility east of the Interstate 5/SR-512 interchange and adjacent to the Crestview Village neighborhood, according to the Tacoma News Tribune, citing Pierce County property records.
The deal marks a sharp downsizing. Ashley's former Spanaway facility at 20623 34th Ave. E. spanned more than 1.1 million square feet. The new site is roughly one-fifth that size but sits just a mile from SR-512 and nine miles from the Port of Tacoma, maintaining the company's access to the trade corridor it has used since first buying Spanaway land in 2018.
The Spanaway cash-out
Ashley sold the Spanaway mega-warehouse and two undeveloped parcels to Amazon in April for a combined $219.5 million, the highest-priced commercial real estate transaction in Pierce County so far in 2026. Amazon plans to open a pick-pack-and-ship operations facility there.
Todd Clarke of Kidder Mathews, who represented Ashley in that sale, told the Seattle Times in late April that Ashley "was pleased with the outcome of working with Amazon and will be reducing their footprint and remaining in the area."
Ashley itself called the Spanaway sale a "strategic realignment" but offered no further detail, according to a June report in Home News Now.
The numbers
Ashley originally assembled the Spanaway land for roughly $20.6 million between 2018 and 2019. The April sale to Amazon netted the company a massive return. By contrast, the seller of Bridge Point Tacoma 210, Chicago-based Kurv Industrial (formerly Bridge Industrial), assembled the 13.82-acre site from separate landowners for just over $4 million in 2021 and completed construction in the summer of 2024. Kurv sold it to Ashley for more than eight times its land cost.
The building features 36-foot clear height, 50 dock-high doors, 130 parking spaces and 24 trailer stalls, according to the property's marketing materials.
What it means locally
The acquisition keeps Ashley's distribution presence in Pierce County at a time when the broader Puget Sound industrial market is softening. Vacancy hit a record 11.5% in the first quarter of 2026, up from 4% in 2022, according to Savills research.
For Crestview Village residents, the warehouse next door now has a confirmed tenant. Bridge Industrial's development of the site drew criticism from neighbors around 2021 over noise, traffic and other concerns. Ashley has not disclosed how many workers it plans to employ at the location or what operations it will run there.
Bridge Industrial rebranded as Kurv Industrial in March 2026 and continues to develop warehouse sites in the region, including the controversial Bridge Point Tacoma 2MM project on a former BNSF Railway Superfund site in South Tacoma.
