Justin Burns, June 11, 2014, Airport World
The Port of Seattle Commission has given approval to a lease for developing the 87-acre Des Moines Creek Business Park, which is estimated to create over 1,600 new jobs.
The approved ground lease is with Panattoni Development to construct up to two million square feet of development south of Seattle-Tacoma International Airport (Sea-Tac) with a combination of airport-related commercial and light industrial uses.
Port of Seattle Commissioner, Tom Albro, explains: “Creating new jobs in Des Moines and South King County is both vital and a great thing.
“This is a good example of the Port partnering with our neighbouring cities to stimulate economic growth and job creation.”
The estimated $100 to $125 million project will be built in several phases over seven years, to include flexible-use, manufacturing, office, distribution and industrial business park buildings to accommodate tenants that benefit from immediate proximity to Sea-Tac Airport including freight, avionics manufacturers and air cargo company offices.
The project is expected to create 350 construction jobs and an estimated 1,600 permanent jobs in south King County.
Panattoni will begin the 35-acre Phase I this summer, and Bart Brynestad, partner with the firm’s Seattle office, notes: “We’re worked hard to ensure the vision of our project aligns with the Port’s mission and will provide commercial office support for its airport and seaport enterprises.
“This is an exciting project and we are looking forward to partnering with the Port of Seattle and City of Des Moines on this multi-year endeavor.”
The Des Moines Creek Business Park development is located just south of Sea-Tac Airport, which served more than 34.7 million passengers in 2013.