{"id":1004634364,"date":"2022-12-08T04:14:18","date_gmt":"2022-12-08T12:14:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004634364"},"modified":"2022-12-09T02:57:10","modified_gmt":"2022-12-09T10:57:10","slug":"third-security-breaks-ground-on-washington-industrial-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/third-security-breaks-ground-on-washington-industrial-park\/","title":{"rendered":"Third Security Breaks Ground on Washington Industrial Park"},"content":{"rendered":"<div id=\"attachment_1004634365\" style=\"width: 310px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004634365\" data-attachment-id=\"1004634365\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/third-security-breaks-ground-on-washington-industrial-park\/moses-lake-project-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Moses-Lake-Project-2-e1670465848263.png\" data-orig-size=\"801,621\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Moses Lake Commerce Center. Image courtesy of Cushman &#038; Wakefield\" data-image-description=\"&lt;p&gt;Rendering of the Moses Lake Commerce Center. Image courtesy of Cushman &#038; Wakefield&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Moses Lake Commerce Center. Image courtesy of Cushman &#038; Wakefield&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Moses-Lake-Project-2-e1670465848263.png?w=801\" class=\"size-medium wp-image-1004634365\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Moses-Lake-Project-2-e1670465848263.png?w=300\" alt=\"Moses Lake Commerce Center. Image courtesy of Cushman &amp; Wakefield\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Moses-Lake-Project-2-e1670465848263.png 801w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Moses-Lake-Project-2-e1670465848263.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Moses-Lake-Project-2-e1670465848263.png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-1004634365\" class=\"wp-caption-text\">Moses Lake Commerce Center. Image courtesy of Cushman &amp; Wakefield<\/p><\/div>\n<p><strong>Third Security<\/strong> has begun the development of Moses Lake Commerce Center, a 42-acre, 800,000-square-foot industrial park in Moses Lake, Wash. <strong>Hansen-Rice Inc.<\/strong>, investor and master planner for the development, is handling the project&#8217;s planning, design and construction.<\/p>\n<p>During the first phase of development, a 108,000-square-foot, food-grade processing facility will be built over 10 acres. The remainder 32 acres could include up to five Class A speculative or built-to-suit assets totaling 692,000 square feet. <strong>Cushman &amp; Wakefield<\/strong>\u2019s Greg Millerd and Nic Alfieri, together with <strong>Keller-Williams<\/strong>\u2019 Russ Roberts, are the project&#8217;s leasing agents.<\/p>\n<hr \/>\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/todd-henderson-on-potential-risks-for-industrial-investment\/\"><span class=\"fl-heading-text\">Industrial Investment\u2019s Changing Risk Picture: DWS\u2019 Todd Henderson<\/span><\/a><\/p>\n<hr \/>\n<p><span style=\"font-size: revert;color: initial\">Moses Lake Commerce Center is taking shape <\/span><span style=\"font-size: revert;color: initial\">at the intersection of Randolph Road NE and Road 7 NE, in a Qualified Opportunity Zone. <\/span><span style=\"font-size: revert;color: initial\">The property is just south of Grant County International Airport and 1 mile from Highway 17, providing direct access to Interstate 90.<\/span><\/p>\n<h2>The industrial sector, still going strong<\/h2>\n<p>Despite successive raises of interest rates, an unstable economic environment and high construction and labor costs, the nation\u2019s industrial sector has continued to see strong fundamentals, including a 5.8 percent increase in rents, a 10-basis-point decrease in the average vacancy rate and nearly 714 million square feet of space under construction at the end of October, according to a <a href=\"https:\/\/www.commercialsearch.com\/news\/optimistic-outlook-predicted-for-industrial-sector\/\">recent CommercialEdge report<\/a>.<\/p>\n<p>The markets with the largest pipelines on a percentage of existing stock basis were Phoenix (46.6 million square feet under construction, 15.6 percent of stock), Dallas (66.7 million, 7.8 percent) and Indianapolis (24.2 million, 7.4 percent), the report shows. Although some of the sector&#8217;s largest players have taken a cautious approach to the <a href=\"https:\/\/www.commercialsearch.com\/news\/a-dive-into-the-industrial-sectors-most-pressing-issues\/\">new development pipeline<\/a>\u00a0and leasing, deliveries are expected to remain at an all-time high up until 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At full build-out, the campus could total 800,000 square feet.<\/p>\n","protected":false},"author":3012,"featured_media":1004634365,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,21742,15],"tags":[32799,51792,51791],"class_list":["post-1004634364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-latest","category-west","tag-cushman-wakefield","tag-keller-williams-2","tag-third-security"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Third Security Breaks Ground on Washington Industrial Park - CPE<\/title>\n<meta name=\"description\" content=\"Third Security has begun the development of Moses Lake Commerce Center, an 800,000-square-foot industrial park in Moses Lake, Wash.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/third-security-breaks-ground-on-washington-industrial-park\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Third Security Breaks Ground on Washington Industrial Park\" \/>\n<meta property=\"og:description\" content=\"Third Security has begun the development of Moses Lake Commerce Center, an 800,000-square-foot industrial park in Moses Lake, Wash.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/third-security-breaks-ground-on-washington-industrial-park\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-08T12:14:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:57:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Moses-Lake-Project-2-e1670465848263.png\" \/>\n\t<meta property=\"og:image:width\" content=\"801\" \/>\n\t<meta property=\"og:image:height\" content=\"621\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Gabriel Frank\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/third-security-breaks-ground-on-washington-industrial-park\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/third-security-breaks-ground-on-washington-industrial-park\\\/\"},\"author\":{\"name\":\"Gabriel Frank\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/cf1bfd2d6753f6ea305911ffd020862c\"},\"headline\":\"Third Security Breaks Ground on Washington Industrial Park\",\"datePublished\":\"2022-12-08T12:14:18+00:00\",\"dateModified\":\"2022-12-09T10:57:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/third-security-breaks-ground-on-washington-industrial-park\\\/\"},\"wordCount\":299,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/third-security-breaks-ground-on-washington-industrial-park\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/12\\\/Moses-Lake-Project-2-e1670465848263.png\",\"keywords\":[\"Cushman &amp; 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