Ryan Cos., GTIS Partners Unveil Four-Story Sodo Warehouse
Ryan Companies opened the newest multistory industrial building in Seattle’s Sodo area, reported the Puget Sound Business Journal. The long-anticipated four-story, 140,000-square-foot 65 Horton building is located on former tide flats and the industrial site took innovative engineering to complete.
The $42.5 million state-of-the-art building is equipped with massive freight elevators and is the area’s third multistory industrial building, a rarity among warehouse designs. The location’s proximity to downtown and easy access to the Port of Seattle has caught the eye of potential tenants. “There’s a lot of eyes on this project just to see how it works,” said Tim Ryan, company development manager per the outlet. “There’s definitely interest in the concept.”
Tim Ryan said U.S. Bank is the lender, and that his company has a 10% owner in the project with equity partner GTIS Partners, a New York City-headquartered company with an opportunity zone fund.
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.