PCCP Provides $252M to Panattoni JV for WA Megaproject
PCCP, LLC has provided $252.3 million of construction financing to a joint venture between Panattoni Development Company, Inc. and a real estate fund advised by Crow Holdings Capital for the development of three industrial buildings totaling approximately 2.15 million square feet. Eastdil Secured arranged the $252.3 million construction financing on behalf of Panattoni and Crow Holdings.
The state-of-the-art, cross-dock distribution buildings are part of the first phase of FRED310, a planned 310-acre, five-building industrial park totaling 3.7 million square feet located in Fredrickson, Washington.
The project includes two speculative warehouses and a build-to-suit 782,875-square-foot building for Harbor Freight, a national tool and equipment retailer. The three warehouses and distribution buildings are anticipated to be delivered in the summer of 2024. Cushman & Wakefield is handling marketing and leasing efforts for FRED310.
Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.