PRESS RELEASE
Acquisition in Renton marks entry into the Pacific Northwest, adding new small-bay supply to a highly constrained market.
SEATTLE, WA – April 28, 2026 – WareSpace, a national operator of modern small-bay warehouse space, today announced the acquisition of a vacant industrial building at 700 Powell Ave. S.W. in Renton, Washington. The 90,000 square-foot property will be converted into a fully managed warehouse hub for the region’s growing community of small businesses. The Renton location is expected to open in Q1 2027.
The move expands WareSpace’s national footprint to 13 markets and reflects its core strategy: find supply-constrained cities where small businesses can’t get the space they need.
Seattle’s small-bay industrial market is among the tightest in the country. Washington leads the nation in new business formation, averaging nearly 14,500 new businesses per month. The space to support them hasn’t kept pace. Sustained population growth, limited land, and almost no new construction under 2,000 square feet have left local entrepreneurs with few affordable options. Renton serves as a key logistics corridor with direct connectivity to Seattle, Bellevue, and Sea-Tac International Airport.
“Renton is exactly the kind of market we look for — well-located buildings that can be repositioned to better serve local entrepreneurs,” said Joseph Ely, co-founder and COO of WareSpace. “The demand is there. We’re here to meet it.”
Reinventing the Warehouse Model
For decades, warehousing meant long leases, empty shells, and figure-it-out-yourself.
WareSpace flipped the model. The Renton hub will offer private warehouse suites with all- inclusive pricing and shared infrastructure, providing a turnkey alternative to traditional leasing.
WareSpace tenants range from e-commerce sellers and contractors to light manufacturers, last-mile delivery operators, and tech startups — businesses that need professional space but don’t fit the traditional leasing mold.
“We’re rethinking how small industrial space is delivered by making it modern, flexible, and ready for growth,” said Levi Cohen, co-founder and CEO of WareSpace. “Every market we enter creates real opportunity for the businesses that rely on us.”
“When you solve for space, you unlock business growth,” added Ely. “This is infrastructure for the next generation of entrepreneurs.”
About WareSpace
WareSpace is a national real estate firm, specializing in the development of co-warehousing and small-bay industrial spaces between 200 – 2000 SF. WareSpace creatively adapts and reconfigures dated industrial and challenged properties into thriving hubs that support the surrounding small business community. Operating with a vertically integrated structure, WareSpace is able to ensure a high level of quality by offering all major service lines in-house, including acquisitions, development, construction, finance, operations, marketing, and sales.
Learn more at warespace.com.
Media Contact: Eric Golman, Chief Marketing Officer, egolman@warespace.com
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