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Panattoni Buys $9M North Bend Site for Industrial Development
Panattoni Development Company has acquired 32 acres just outside of the Seattle metropolitan area for $9 million, with plans for a multi-building industrial project.
The site in North Bend has already been entitled for development, and the project, Mount Si Industrial Center, is expected to break ground next week. The development will total 357,000 square feet across three buildings, reported the Puget Sound Business Journal.
The buildings will measure 108,900, 112,500 and 135,500 square feet. Located at 1307 NW Eighth St., the property is next door to Nintendo’s North Bend distribution center. Zach Vall-Spinosa of Kidder Mathews and Monte Decker of CBRE will oversee leasing.
In January, Panattoni sold the Des Moines Creek Business Park for $110 million. It also recently completed the $88 million sale of its Seattle Gateway I and II, which it had co-owned with MetLife.
