Published February 2001

Intracorp finishing up industrial center’s
final tract

By Kimberly Hilden
Herald Business Journal Assistant Editor

Intracorp Industrial Center-Seaway in south Everett is one tract — and about 228,000 square feet — from completion, said Gary Bullington, a Director at Cushman & Wakefield.

“What we have left is phase two,” Bullington said. “We have designed and are under construction with one of two buildings that remain of that phase.”

That building, Building “A” of Tract II, will provide 110,000 square feet of space and is expected to be completed in March or April, Bullington said, while Building “B” has been designed and could be completed as early as August on a fast track.

There has been healthy interest in the final phase of the industrial center, Bullington said, and negotiations are under way for the lease of the building now under construction.

According to literature from Intracorp Real Estate LLC, building features include 24-foot clear height, dock-high and grade-level loading and generous truck maneuvering space.

Lease rates for the two buildings are 45 cents per square foot per month for shell warehouse space and $1.15 per square foot per month for office space, Bullington said, adding that buildings also can be purchased.

The industrial center will, when completed, total about 800,000 square feet of space, Bullington said. Already, buildings in Tracts I and III have been leased or sold.

According to Intracorp, businesses at the complex include King Extrusions Ltd., a vinyl products plant; Viking Freight; Frito Lay; Lee Grocery; Port Chatham seafoods; Synsor Corp., an office furniture manufacturer; Mygrant Glass; Hoglund Transit; and Specialty Manufacturing.

Majestic Glove, the industrial center’s newest business, arrived in December from Woodinville, purchasing almost 70,000 square feet of space adjacent to Hoglund Transit and Specialty Manufacturing, Bullington said. According to a Cushman & Wakefield report, the purchase cost $4.4 million.

Majestic Glove, which imports personal protective equipment — mainly gloves — from around the globe, employs about 35 people.

“What’s interesting is the number of companies that are coming from the Eastside,” Bullington said, adding that besides Majestic Glove, Specialty Manufacturing and King Extrusions also migrated from there.

The availability of larger buildings and attractive lease rates and purchase prices are real draws, Bullington said.

The ability to expand attracted Majestic Glove to the center, company President Hugo Kruiniger said.

“The whole Eastside is being built; there’s not really storage (space) anymore,” said Kruiniger, whose company started in 1978. “We used to be in Bellevue, then moved to Woodinville. Now, even Woodinville is getting crowded.”

For more information on Intracorp Industrial Center, call Bullington at 425-455-4500 or Darren Peugh, Project Manager at Intracorp, at 206-728-4560.

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