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.<\/p>\n<\/p>\n
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.<\/p>\n<\/p>\n
“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.”<\/p>\n<\/p>\n
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.<\/p>\n<\/p>\n
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.<\/p>\n<\/p>\n
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