Formost Fuji Acquires Everett Industrial Property for $20M
Kidder Mathews’ Zach Vall-Spinosa and James Leptich have represented Woodinville, WA-based packaging manufacturer Formost Fuji in the $20.05 million purchase of the MTorres America Building in Everett, WA.
The building at 905 80th Street SW was previously occupied and owned by Spain-based MTorres America, an aerospace manufacturing company which is reportedly downsizing. Situated on nearly 15-acres, the 65,000-square-foot building has capacity for warehouse expansion of up to 32,000 square feet. According to a Kidder Mathews news release, industrial owner/user opportunities in the region are rare, especially relatively new product with expansion potential.
“It was a pleasure working with the team at Formost Fuji,” said Vall-Spinosa. “We’re happy to have helped them identify and acquire a property they can call home immediately that also gives them room to expand when the need arises.” The Everett location is just off the Boeing Freeway, offering easy access to Interstate 5 and the Port of Seattle, situated 27 miles away.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.