Published August 2003

Business Briefs

Shopping center proposed
along 116th Street NE in Marysville
Plans are moving ahead for a shopping center along 116th Street NE, with WinCo Foods as the probable anchor tenant.

White-Leasure Development Co. of Boise, Idaho, recently bought land along the north side of 116th Street NE near the intersection with State Avenue, according to county property records. Plans filed with the city of Marysville call for a shopping center, tentatively called Gateway Center, on more than 13 acres there.

The center’s anchor store would be larger than 92,000 square feet, according to site plans. Two to three other retail spaces would range in size up to 29,000 square feet.

While WinCo Foods, also based in Boise, is a newcomer to the area, there are indications that it is the planned anchor for Gateway Center, as one of the recently purchased lots has the taxpayer address listed on documents in the Snohomish County Assessor’s Office as WinCo’s corporate headquarters.

WinCo officials, however, declined to reveal their specific plans.

Chris Holland, senior planner for the city of Marysville, said the area along 116th Street NE already is zoned for retail development. As a result, no public hearing is required, and approvals for the project could come within the next several months.

Lake Stevens Marketplace
sold for $13.6 million
A group of investors from Eastern Washington has purchased the Lake Stevens Marketplace on Highway 9 for $13.6 million, according to county property records.

Twin Falls Properties LLC, a partnership based in Wenatchee, bought the shopping center at 303 91st Ave. NE from Wesbild Inc., a Canadian-owned owner and manager of retail properties.

Terry Moss, president of Bellevue’s Commercial Realty Group Inc., brokered the sale of the 10-year-old center. It sold before he even listed it on the open market.

The busy area around Frontier Village, limited land available for more commercial development and continued residential growth in the Lake Stevens area all make the Marketplace a desirable development to own, Moss said. He added that the center is fully leased.

In purchasing the shopping center, Twin Falls Properties gets almost 100,000 square feet of retail space on nearly 12 acres of land, according to the Snohomish County Assessor’s Office. Major tenants include Ace Hardware and Rite Aid, though the deal does not include the Albertsons store in the center, which is owned by the supermarket chain, or a nearby bank building.

Magna Design garners
five-star Envirostars rating
Lynnwood-based Magna Design recently was given the highest honor from Envirostars, a nationally recognized program formed by Puget Sound counties to certify and award businesses for their efforts in preventing pollution and reducing hazardous waste.

Magna, a producer of case goods, desking systems and technology conference tables, was awarded a five-star rating for its commitment to responsible manufacturing, having over the past few years implemented a “lean” manufacturing program modeled after the program Toyota put into practice to reduce waste and trim manufacturing costs.

Some recent changes the company has implemented include installing computerized optimizing and cutting equipment in order to minimize wood waste, sending wood waste out to be composted for use in Northwest gardens and using water-based products whenever possible.

Bothell biotech opens new lab
MDS Pharma Services officially opened its new Canyon Park research facility July 17 with a ribbon-cutting ceremony and a scientific symposium.

The company — a subsidiary of MDS Inc. of Montreal, Canada — previously had local offices divided between several locations in Bothell. The new 58,000-square-foot space consolidates those offices and includes state-of-the-art laboratories, according to the company.

MDS Pharma Services offers a range of research and development services for other pharmaceutical and biotechnology companies.

PSC Inc. to move headquarters
to Canyon Park campus
PSC Inc., a maker of bar-code scanners and related equipment, is moving its corporate headquarters from Portland, Ore., to the Canyon Park business campus in south Snohomish County.

About 20 employees are expected to make the move, which will happen in September. The headquarters staff will eventually grow to include a customer service team as well, according to the company. PSC’s manufacturing facility will remain in Eugene, Ore.

PSC is in the midst of a financial turnaround. In June, the company announced that its reorganization plan had been approved by a U.S. Bankruptcy Court in New York, allowing it to take the final actions necessary to emerge from Chapter 11.

Under the plan, creditor Littlejohn & Co. will convert most of the debt it acquired from PSC last November into ownership equity in the company. The transaction will convert PSC from a publicly traded company into a private firm, while reducing its debt from $124 million to less than $35 million.

ICOS expects drug approval
by end of year
ICOS Corp. said it has submitted updated information about its anti-impotence drug to federal regulators, furthering expectations that the drug will be approved before 2003 ends.

Bothell-based ICOS and its development partner for the drug, pharmaceutical giant Eli Lilly & Co., revealed in July that they submitted additional information about Cialis to the U.S. Food and Drug Administration during the second quarter of this year.

That step could be the last major one before Cialis gains approval for use by patients in this country. It would be ICOS’ first drug to receive final approval for sale.

The companies’ recent submission was meant to satisfy the FDA’s surprise request in April 2002 for additional data on possible side effects of the drug. That required doing more clinical studies over the past year.

“The FDA did tell us that the response is complete,” said Lacy Fitzpatrick, spokeswoman for ICOS. Assuming the FDA doesn’t come back again and ask for additional data, it is expected to take up to six months from the submission date to review and approve Cialis, she added.

Cialis already is in approximately 35 countries, including much of Europe. There, it has captured 20 to 30 percent of the anti-impotence market, according to early sales figures.

Seattle Genetics approves
stock-placement deal
Shareholders in Seattle Genetics Inc. of Bothell approved a plan to sell $41 million of stock and warrants for future stock purchases to a group of investors, doubling the biotechnology firm’s cash reserves.

The stock-placement deal, first announced in May, gives the investors, led by JP Morgan Partners and Baker Brothers Investments of New York, ownership of about one-third of the Bothell company’s shares. The money will fund ongoing clinical trials and research into antibody-based therapies to treat cancer and other diseases.

Everett City Council approves
zoning measure for pier project
The Everett City Council unanimously changed its shoreline zoning regulations in July to allow construction of a new pier that city officials say is needed to persuade the Boeing Co. to build its proposed 7E7 Dreamliner jet in Everett.

Mayor Frank Anderson said after the council’s unanimous vote July 16 that “Boeing has a huge impact on our economy, and the pier will help the economy of the whole region move into the future.”

The move allows the Port of Everett to bypass zoning changes needed to build the pier, which would be linked by rail to Boeing’s south Everett factory. The council also approved rezoning areas adjoining the proposed pier to allow stores and offices.

Several city, state and federal agencies must still give their approval to the pier, which would be built just outside the Mukilteo city limits.

Fluke’s SureGrip line recognized
by Business Week
Everett-based Fluke Corp.’s SureGrip accessory line recently won a Silver Award in the annual ISDA/Business Week magazine industrial design competition.

Introduced earlier this year, Fluke’s SureGrip accessories include an eight-item line of ergonomically designed test lead clips, hooks and pincers for electronic test and measurement.

Contour Aerospace gets new parent
A merger involving the parent company of Contour Aerospace in Everett was completed in July.

Vought Aircraft Industries of Dallas said it now owns Aerostructures Corp., Contour’s parent, which will operate as a subsidiary of Vought. The combined company, which will design and manufacture airframe structures, employs 6,000 employees in seven locations and forecasts annual revenues of $1.4 billion.

Contour Aerospace’s Everett plant, which machines small aircraft parts, employs about 100 people.

Port of Everett receives federal grant
to improve security
The Port of Everett has been awarded a $580,000 federal grant to improve security at its facilities along the waterfront, officials said in July.

The money from the Transportation Security Administration will primarily be used to install fences and controlled access gates around the port’s marine terminals, said Ed Paskovskis, deputy port director.

The port, in conjunction with the ports of Seattle and Tacoma, had earlier received a federal grant to study its security. Based on the study, the port had sought $1.5 million for completing the work.

Paskovskis said the fences and security gates were the most important items on the list. The three ports had also sought money to establish a common communications network that would link the three ports with local law enforcement agencies and the U.S. Coast Guard.

The grant doesn’t cover that project, but Paskovskis said it’s possible more money might be available for that later.

Safeway begins online shopping
services in region
Safeway Inc. has begun offering online grocery shopping to residents in parts of Snohomish County.

The company announced in July that it was taking orders at www.safeway.com and would begin delivering groceries to homes, from Bothell to Marysville, on July 28.

The Bothell store is one of five around Puget Sound to begin deliveries of items ordered online. The others are in Issaquah, Puyallup, Redmond and Renton. Service in central Seattle will begin Aug. 11, after Safeway opens a new Seattle store.

The company said it is adding 42 employees at the stores to handle online orders.

To use the service, shoppers must register at the Web site. After placing an order, they can choose a two-hour window between 10 a.m. and 8 p.m. for the delivery. Same-day delivery is available for those who order before 10 a.m.

There is a $6.95 charge for each delivery. Safeway Club Card holders will get the same discounts they would receive shopping in person.

Albertsons has offered a similar service in south Snohomish County through its Web site, albertsons.com, since 2000.

Tourism Bureau recognized
for volunteer program
The Retired and Senior Volunteer Program recently honored the Snohomish County Tourism Bureau with the Teams Work Award in recognition of its cooperative efforts in promoting volunteer opportunities for retired and senior volunteers.

The Tourism Bureau coordinates the activities for 150 volunteers and maintains one of Washington state’s largest volunteer-operated visitor information center programs.

Keller Williams breaks records
for profit sharing, new agents
Keller Williams Realty recently reported big numbers for May: a company record for monthly profit share — distributing $1.3 million — and a monthly record for new agents — 1,481.

The real estate company’s profit share, which is distributed to qualifying agents and employees at virtually every level, has totaled $8.4 million during the past 12 months, and $21.8 million during the past five years, the company said.

The Northwest region of Austin-based Keller Williams, which includes Washington, Idaho and Oregon, is one of the fastest-growing regions in the country, the company said, with 10 market centers and more than 680 agents. Several of those market centers already are sharing profits.

Coastal Community Bank
surpasses $100 million in assets
Everett-based Coastal Community Bank recently surpassed the $100 million mark for assets.

“We are very proud of this milestone accomplishment because it reflects the confidence the community has placed in us and their appreciation of our vision,” bank President Lee Pintar said.

Since its founding six years ago, Coastal has opened branches in Monroe and Sultan, and started an employee giving fund.

New businesses, locations
n Seattle Metropolitan Credit Union has opened its newest branch at 3925 196th St. SW in Lynnwood. The 70-year-old credit union, which is open to anyone who lives or works in Snohomish, King and Pierce counties, also operates branches in Seattle, Northgate, Tukwila and Kirkland. For more information, call 800-334-2489.

n Lipstick Junkie — A Mini Spa & Beauty Boutique, located at 2610 Colby Ave., in Everett, is holding a grand opening Aug. 2. The boutique, which will offer airbrush tanning, facials, waxing, manicures and pedicures, and makeovers, also will carry a number of European bath and body products. For more information or to make an appointment, call 425-339-8560 or visit Lipstick Junkie’s Web site, www.lipstickjunkie.com.

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