Published February
2001
Intracorp
finishing up industrial center’s
final tract
By
Kimberly Hilden
Herald Business Journal Assistant Editor
Intracorp Industrial
Center-Seaway in south Everett is one tract — and about 228,000 square
feet — from completion, said Gary Bullington, a Director at Cushman &
Wakefield.
“What we have left
is phase two,” Bullington said. “We have designed and are under construction
with one of two buildings that remain of that phase.”
That building, Building
“A” of Tract II, will provide 110,000 square feet of space and is expected
to be completed in March or April, Bullington said, while Building “B”
has been designed and could be completed as early as August on a fast
track.
There has been healthy
interest in the final phase of the industrial center, Bullington said,
and negotiations are under way for the lease of the building now under
construction.
According to literature
from Intracorp Real Estate LLC, building features include 24-foot clear
height, dock-high and grade-level loading and generous truck maneuvering
space.
Lease rates for the
two buildings are 45 cents per square foot per month for shell warehouse
space and $1.15 per square foot per month for office space, Bullington
said, adding that buildings also can be purchased.
The industrial center
will, when completed, total about 800,000 square feet of space, Bullington
said. Already, buildings in Tracts I and III have been leased or sold.
According to Intracorp,
businesses at the complex include King Extrusions Ltd., a vinyl products
plant; Viking Freight; Frito Lay; Lee Grocery; Port Chatham seafoods;
Synsor Corp., an office furniture manufacturer; Mygrant Glass; Hoglund
Transit; and Specialty Manufacturing.
Majestic Glove, the
industrial center’s newest business, arrived in December from Woodinville,
purchasing almost 70,000 square feet of space adjacent to Hoglund Transit
and Specialty Manufacturing, Bullington said. According to a Cushman &
Wakefield report, the purchase cost $4.4 million.
Majestic Glove, which
imports personal protective equipment — mainly gloves — from around the
globe, employs about 35 people.
“What’s interesting
is the number of companies that are coming from the Eastside,” Bullington
said, adding that besides Majestic Glove, Specialty Manufacturing and
King Extrusions also migrated from there.
The availability
of larger buildings and attractive lease rates and purchase prices are
real draws, Bullington said.
The ability to expand
attracted Majestic Glove to the center, company President Hugo Kruiniger
said.
“The whole Eastside
is being built; there’s not really storage (space) anymore,” said Kruiniger,
whose company started in 1978. “We used to be in Bellevue, then moved
to Woodinville. Now, even Woodinville is getting crowded.”
For more information
on Intracorp Industrial Center, call Bullington at 425-455-4500 or Darren
Peugh, Project Manager at Intracorp, at 206-728-4560.
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