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A Portland-based real estate investment firm has announced its purchase of a multi-tenant industrial property in Sumner, Wash.

Harsch Investment Properties paid $17.5 million for the 24th Street Business Park, a 240,000-square-foot property featuring 13 single-story buildings near Washington State Route 167 (the Valley Freeway) in Pierce County, according to Rob Aigner, senior vice president and regional manager of Harsch’s Seattle office.

The business park has direct access to the freeway and is currently 94 percent occupied by local, regional and national tenants.

鈥淲e consider this a prime location for small- to medium-sized industrial clients,鈥� Aigner said. 鈥淭he site is well-suited for distribution, manufacturing and warehousing tenants 鈥� It is also less than 10 miles from the Port of Tacoma and a half hour from the Port of Seattle.鈥�

Tenants at the business complex include a sports training facility, a custom furniture manufacturer and food services suppliers.

The building footprints are between 18,000 and 20,000 square feet, with spaces ranging from 1,200 square feet to 20,000 square feet.

鈥淲e believe these small- to medium-sized spaces are very desirable in this enormous submarket of large distribution centers,鈥� Aigner said.

Harsch owns and operates 22 million square feet of office, industrial, multifamily and retail space in six western states.