Crow Holdings, Panattoni to Develop 2.3 MSF Spec Distribution Campus Near Seattle

by Amy Works

FREDERICKSON, WASH. — A joint venture between a real estate fund advised by Crow Holdings Capital and Panattoni will develop four warehouse/distribution buildings totaling more than 2.3 million square feet in Frederickson. Located at Canyon Road East and E. 176th Street, the 310-acre FRED310 site has received its State Environmental Policy Act approval. Delivery of the new buildings is slated for no later than first-quarter 2024.

The project’s Phase I will consist of four Class A buildings of 753,199 square feet, 437,360 square feet, 549,320 square feet and 614,020 square feet. The buildings will offer ample dock-high and grade loading, 36- to 40-foot clear heights, auto/trailer parking and large modern truck courts.

The development team has executed a lease for 1.1 million square feet in the project’s Building C to a leading specialty retailer. Scott Alan, Patrick Mullin and Connor Cree of Cushman & Wakefield are marketing the properties for lease. Upon complete buildout, FRED310 will offer as much as 4 million square feet of Class A industrial product.

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