May 20, 2019
A Kirkland developer has broken ground to build 247,000 square feet for industry or distribution.
MARYSVILLE — Vector Development, a Kirkland-based commercial real estate firm, has begun construction of a $32 million manufacturing facility at the Marysville I-5 Industrial Center.
When completed, the two-building development at 4000 156th St. NE will provide 247,000 square feet of space for manufacturing or distribution tenants.
“We are very excited to be a part of the Arlington-Marysville Manufacturing Industrial Center zone and hope prospective tenants can capitalize on these tax abatements and attract new jobs,” said Tyler Litzenberger, Vector’s president.
“MI-5 is also in a great location, strategically situated close to the highly desirable Everett industrial sub-market, Boeing and many related aerospace businesses,” Litzenberger said.
Vector is developing the facility in partnership with Marysville Investment Partners, a local real estate investment group. The project is expected to be completed in spring 2020.
JMR Construction has been selected as general contractor for the industrial center.
The Arlington-Marysville Manufacturing Industrial Center is more than 4,000 acres of land east of I-5. It’s split between the two cities and takes in the Arlington Municipal Airport.
Businesses that develop land in the designated manufacturing and industrial area can apply for property-tax breaks.
Vector also is developing the Tacoma I-5 Distribution Center, a $10 million industrial facility, and recently completed an office building in Olympia for Washington Realtors.
SOURCE: HeraldNet