Published September 2002

Commercial
Real Estate Briefs

Boeing to seek tenants for three buildings
The Boeing Co. will seek tenants for three Snohomish County buildings it is vacating.

The company recently announced that it will lease, not sell, the two Harbour Pointe buildings in Mukilteo that it’s moving out of. And it plans to lease its 40-70 building, one of three in the Bomarc complex on Everett’s Airport Road.

No workers will be laid off as a result of the moves, the company said.

Boeing is “offering these buildings for lease rather than sale to retain as much flexibility as possible with our corporate real estate assets,” John Quinlivan, the Everett site manager, said in a prepared statement.

Boeing has been shifting work out of the two Harbour Pointe buildings as part of a drive to streamline manufacturing. About 850 people worked in the buildings in February, when Boeing announced plans to shift the work they do to other Everett sites. Those shifts will be completed by year’s end, Boeing said.

The two Harbour Pointe buildings — designated by Boeing as 40-01 and 40-02 — were built in 1993. The 40-01 building is 475,000 square feet in size, while 40-02 is 326,000 square feet, and features 50-foot clearances. They sit on a 35-acre site. The Bomarc building is 486,000 square feet of manufacturing space with 10,000 square feet of office space. It could be configured for smaller users, Boeing said.

Binswanger Puget Sound Properties has been retained by Boeing Realty Corp. to market the properties.

Asian specialty market leases
former Kmart building
99 Ranch Market, a retail grocery chain that features Asian specialty foods, plans to move into the former Edmonds Kmart building by spring.

In August, the chain’s parent company, Tawa Supermarkets Inc., confirmed that it had leased the 77,000 square feet left empty at 22511 Highway 99 S. when Kmart departed in June.

Officials at Tawa, which is based in Buena Vista, Calif., said the Asian supermarket will use about 55,000 square feet and lease the remaining space to other businesses, such as restaurants and small retailers.

The deal with the grocery chain makes the Edmonds property, owned by Bellevue’s Nat Franklin, the first of the closed Kmart locations in the region to gain a tenant.

Kmart shut 283 locations across the nation earlier this year as part of a plan to help it emerge from bankruptcy. In addition to the Edmonds and Bellevue locations owned by Franklin, the retailer closed stores in Renton and Port Orchard.

Back to the top/September 2002 Main Menu