FRED310. Picture courtesy of Nelson Worldwide
Panattoni and an actual property fund suggested by Crow Holdings Capital have discovered a tenant for an industrial facility in Frederickson, Wash., that’s presently below development. The three way partnership signed a long-term lease with Harbor Freight Instruments , which is able to occupy a 782,875-square-foot constructing inside the FRED310 industrial campus.
Panattoni and Crow Holdings obtained the approvals to begin work on the multi-building FRED310 improvement in August 2022. The mission is presently below development and Harbor Freight’s occupancy will begin as soon as its constructing is full in the summertime of 2024. Cushman & Wakefield’s Scott Alan, Patrick Mullin and Connor Cree had been in control of advertising the mission and represented the homeowners within the lease.
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The design of the power caters to distribution and manufacturing wants, and Harbor Freight will use the house for distribution, in accordance with Cushman & Wakefield. Harbor Freight’s constructing might be a part of the primary part of FRED310, whose buildings will supply dock excessive and grade loading, 36- to 40-feet clear heights, automobile and trailer parking and huge truck courts.
The constructing is situated on the intersection of Canyon Street E. and E. 176th Avenue close to Interstate 5, giving tenants a 30-minute drive to the Port of Tacoma, whereas being 45 miles away from the Port of Seattle. The realm is already dwelling to a number of company tenants, together with Ikea, Ace {Hardware}, Amazon and Whirlpool.
FRED310 to deliver 4 MSF of business house
Harbor Freight’s facility solely represents a portion of Panattoni and Crow Holdings’ first part of its FRED310 industrial mission in Frederickson. When accomplished, the primary part will complete 2.3 million sq. toes unfold all through 4 buildings. In keeping with Panattoni, the three way partnership presently has greater than 1.3 million sq. toes of the primary part below development and is anticipating to ship that a lot house by the primary quarter of 2024.
The primary part is anticipated to be absolutely full within the first half of 2024. The three way partnership’s second part of FRED310 will embrace three buildings starting from roughly 450,000 to 750,000 sq. toes. As soon as absolutely constructed out, the general mission will complete greater than 4 million sq. toes.
Elsewhere in Washington, Panattoni is about to interrupt floor on a 243,000-square-foot warehouse in Covington, Wash. Earlier this 12 months, the corporate additionally introduced plans to develop a 274,000-square-foot distribution facility in Shock, Ariz., within the Phoenix metro.
