Three of FRED310’s six buildings are already preleased, encompassing roughly 2.2 million sq. ft. Picture courtesy of Cushman & Wakefield
A three way partnership of Panattoni Growth Co. and Crow Holdings Capital has damaged floor on a 782,875-square-foot industrial facility in Frederickson, Wash., a Seattle suburb. The build-to-suit asset can be constructed for Harbor Freight Instruments. Completion is predicted within the second quarter of 2024.
Constructing E is a part of FRED310, an industrial improvement deliberate to embody round 4 million sq. ft throughout six buildings. 4 of them are already underway, totaling 3.3 million sq. ft.
One other build-to-suit challenge on the industrial park consists of the 1.1 million-square-foot Constructing C, which is constructed for Flooring & Décor.
The developer acquired the 310-acre website in 2021 from The Boeing Co. for $200 million. Earlier this 12 months, the three way partnership secured a $252.3 million development mortgage from Pacific Capital Coast Companions for the primary section of the challenge. The second section will embody two buildings—A and B—encompassing roughly 539,300 sq. ft. FRED310 is ready to function 36- to 40-foot clear heights and 130-foot trailer courts, together with ESFR sprinkler techniques.
The event crew consists of normal contractor Sierra Development, structure agency NELSON and engineers AHBL, Kimley-Horn and Terra Associates. Cushman & Wakefield represented the proprietor within the lease transaction with Harbor Freight Instruments.
The power is taking form on the intersection of Canyon Street E and 176th St. E, 9 miles from Interstate 5 and a few 16 miles from Port of Tacoma. Downtown Seattle is 45 miles north, whereas Port of Seattle is 46 miles away. Seattle-Tacoma Worldwide Airport is 36 miles northeast.
Panattoni grows Washington stock
Earlier this 12 months, Panattoni partnered with PGIM Actual Property for the development of a 243,000-square-foot industrial advanced in Bothell, Wash. The three-building challenge is slated for completion in the summertime of 2024.
In January, the agency introduced a 243,000-square-foot speculative warehouse in Covington, Wash., anticipated to return on-line this 12 months. One other challenge, in partnership with PCCP, entails the event of two infill industrial parks in Vancouver, Wash., set to embody some 625,000 sq. ft.
