Newmark Arranges Full-Building Lease at Prologis Park SeaTac 3, Completing Lease-Up of Des Moines Creek Industrial Portfolio

October 22, 2026 4:00 PM

Newmark announces the Company has arranged a full-building lease at Prologis Park SeaTac 3, a 265,922-square-foot Class A industrial facility in Des Moines, Washington. Newmark Executive Vice Chairman Thad Mallory, Vice Chairman Taylor Hoff and Managing Director Cam Warren represented property owner Prologis in the transaction.

"This submarket has led the way for regional leasing trends for over a decade, and has consistently drawn interest from household name companies desiring state-of-the-art functionality and rapid access to the entire region," said Mallory. "The manufacturing project that will be using this property is cutting-edge and we are excited about the job growth and possibilities that it represents for our region."

The full-building lease brings Prologis's holdings within the Des Moines Creek industrial corridor to 100% occupancy and is yet another significant commitment in one of the Puget Sound region's most sought-after industrial submarkets, immediately south of Seattle-Tacoma International Airport.

"The leasing momentum at SeaTac 3 underscores businesses' appetite for high-quality, well-positioned space in the market with the property now reaching 100% occupancy," said Lucca Merlino, Director of Leasing at Prologis.

Located at 21202 24^th Avenue South, the property offers direct access to Interstate 5, State Route 99 and Interstate 405. The facility features 38-foot clear heights, 45 dock-high doors, extensive trailer and employee parking and modern distribution capabilities tailored to large-scale industrial and manufacturing operations.

According to Newmark Research, the transaction reflects a broader theme emerging across the Seattle industrial market. While leasing activity has moderated and tenants have gained more options following a wave of new development, companies continue to make long-term commitments to well-located, highly functional facilities.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leading commercial real estate advisor and service provider to large institutional investors and other owners, global corporations and other occupiers, and lenders. Built with purpose and driven by excellence, Newmark's comprehensive platform is uniquely tailored to provide superior outcomes to clients. For the twelve months ended June 30, 2026, Newmark generated revenues of more than $3.6 billion. As of June 30, 2026, Newmark and its business partners together operated from over 195 offices with more than 10,000 professionals across four continents. Learn more at nmrk.com or follow @newmark.

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