California real estate group buys over 70 acres of Kent Valley land from Boeing

By MICHELLE CONERLY
Kent Reporter Reporter, Schools, Education, Sports
February 8, 2013 · 10:52 AM

The IDS Real Estate Group and Clarion Partners have purchased more than 70 acres of land for warehouses in the Kent Valley from The Boeing Co.

The space, adjacent to the Boeing Kent Space Center building, north of South 212th Street and west of the West Valley Highway, is scheduled for construction beginning this spring.

"It's a pretty major transaction and a real vote of confidence in our economy," said Ben Wolters, city economic and community development director. "We're pretty pleased with the news."

The first phase of construction consists of two warehouse buildings, one 318,000 square feet and the other 120,000 square feet. The rest of the space will be built-to-suit once tenant interest has been verified.

In the last few years, vacancy rates in the Kent Valley have been pushed down to about 6 percent, attributed to its proximity to multiple highways and Sea-Tac Airport.

 

Contact Kent Reporter Reporter, Schools, Education, Sports Michelle Conerly at mconerly@kentreporter.com or 253-872-6600, ext. 5056.

Comment on this story.

COMMENTING RULES: We encourage an open exchange of ideas in our online community, but we ask you to follow our guidelines for respecting community standards. In a nutshell, don't say anything you wouldn't want your mother to read. Please see our FAQ if you have questions or concerns about using Facebook to comment.

So keep your comments:

  • Civil
  • Smart
  • On-topic
  • Free of profanity

We ask that all participants own their words by logging in with their Facebook account. It's a simple process that will take seconds and helps keep our comments free of trolls, cranks, and “drive-by” commenters. We reserve the right to remove comments from anyone using screen names, pseudonyms or false identities. Please refer to our Terms of Use for full detail on participating on our site.