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.