Friday, November 10, 2017

Everett Real Estate Deal

By Karen Robes Meeks

The Port of Everett Commission has agreed to ink a $3.689 million purchase and sale agreement with Panattoni Development Co. for nearly 10 acres of the port’s 38-acre Riverside Business Park.

The real estate company will have 60 days to review and 30 days to close, according to the port.

"Panattoni is excited to be working with the Port and the City of Everett on another state-of-the-art industrial building. This project will be adding to our resume of over a dozen buildings in Snohomish County all of which were successful projects for us,” said Donnie Belk, Senior Development Manager with Panattoni. “We expect to be under construction at Riverside Business Park in the Spring of 2018 with delivery of the finished space by December 2018. We are calling our project Glacier Peak at Riverside Business Park."

According to the port, this land sale, paired with Latitude’s land lease and KW Projects purchase, will generate up to 400 direct jobs, and 2.8 additional local jobs for every position created, adding that all but two lots in the business park are under contract.