California-based Panattoni Development Company has purchased Lakewood Tacoma Gateway, a 21.83-acre industrial development site in Lakewood.
The property, located at 14801 Spring Street SW, is 10 miles from the Port of Tacoma along the I-5 corridor. Panattoni will immediately start construction of a 467,526 square foot, 36-foot clear height Class A warehouse, which will also have 92 onsite trailer parking stalls.
The City of Lakewood aided by streamlining the permitting process, to the praise of real estate brokerage Kidder Mathews, which represented both parties in the transaction.
“We anticipate the City of Lakewood will be a strong partner in attracting businesses to this project and any future projects in this area,” said Vanessa Herzog, a senior vice president with Kidder Mathews.
Once the project is complete, Herzog and Thad Mallory, a senior vice president with Kidder Mathews, will represent Panattoni in the leasing of the warehouse.
“We are excited about this new project and appreciate Kidder Mathews efforts in this transaction,” said Bart Brynestad, local partner at Panattoni. “This project’s accessibility to I-5 and the Port of Tacoma is unmatched in the market.”