{"id":1004734290,"date":"2024-10-24T03:27:16","date_gmt":"2024-10-24T11:27:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004734290"},"modified":"2024-10-24T05:56:28","modified_gmt":"2024-10-24T13:56:28","slug":"tcc-metlife-deliver-multi-story-industrial-building-near-port-of-seattle","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tcc-metlife-deliver-multi-story-industrial-building-near-port-of-seattle\/","title":{"rendered":"Trammell Crow, MetLife Deliver Multi-Story Industrial Building Near Seattle Port"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/seattle-metro-logistics-facility-located-at-terminal-106.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"900\" data-attachment-id=\"1004734291\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/tcc-metlife-deliver-multi-story-industrial-building-near-port-of-seattle\/seattle-metro-logistics-facility-located-at-terminal-106\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/seattle-metro-logistics-facility-located-at-terminal-106.jpg\" data-orig-size=\"1200,900\" 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=\"seattle-metro-logistics-facility-located-at-terminal-106\" data-image-description=\"&lt;p&gt;Property at 44 S. Nevada St., Seattle.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The facility can accommodate a variety of industrial usages, such as last-mile, storage, regional distribution, manufacturing and maritime. Image courtesy of Trammell Crow Co.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/seattle-metro-logistics-facility-located-at-terminal-106.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/seattle-metro-logistics-facility-located-at-terminal-106.jpg\" alt=\"Exterior shot of the Seattle Metro Logistics, an industrial facility in Seattle.\" class=\"wp-image-1004734291\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/seattle-metro-logistics-facility-located-at-terminal-106.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/seattle-metro-logistics-facility-located-at-terminal-106.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/seattle-metro-logistics-facility-located-at-terminal-106.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/seattle-metro-logistics-facility-located-at-terminal-106.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption class=\"wp-element-caption\">The facility can accommodate a variety of industrial uses, such as last-mile, storage, regional distribution, manufacturing and maritime. <em>Image courtesy of Trammell Crow Co.<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>A joint venture between Trammell Crow Co. and MetLife Investment Management wrapped up construction on Seattle Metro Logistics, a two-story, 702,429-square-foot industrial facility in Seattle. Bank OZK funded the development with a $105 million construction note, CommercialEdge data shows. CBRE handles leasing.<\/p>\n\n\n\n<p>NELSON Worldwide provided architectural services, while Lease Crutcher Lewis served as general contractor. Construction began in 2022, and by September 2023 the project was in full swing, with the crew setting up the development\u2019s 156 concrete tilt-up wall panels. Fast forward about seven months and the team topped out on the project.<\/p>\n\n\n\n<p>The facility is Seattle\u2019s second <a href=\"https:\/\/www.commercialsearch.com\/news\/is-the-multistory-industrial-niche-taking-off\/\">multi-story industrial<\/a> building, Mark Netherland, managing director for Trammell Crow Co.\u2019s Seattle office, said in prepared remarks. Seattle\u2019s first\u2014and also the nation\u2019s\u2014was Prologis\u2019 Georgetown Crossings, a three-story, 589,615-square-foot industrial property also designed by NELSON.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/staying-busy-when-industrial-momentum-hits-the-brakes\/\">Staying Busy When Industrial Momentum Hits the Brakes<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Seattle Metro Logistics encompasses roughly 350,000 square feet of industrial space on each of its floors. The two levels feature identical specifications, including 30-foot clear heights, 50- by 50-foot column spacing and a live load of 350 pounds per square foot.<\/p>\n\n\n\n<p>Additionally, the warehouse\u2019s depth reaches 289 feet while the truck courts range from 131 to 135 feet. To reach the second level, a wide earthen ramp measuring between 36 and 56 feet at a 6 percent slope was installed. Other features include 701 parking spaces and a solar-ready roof.<\/p>\n\n\n\n<p>Located at 44 S. Nevada St., Seattle Metro Logistics is the largest logistics facility within 15 miles of downtown Seattle, according to Trammell Crow. The property is less than 3 miles from the Port of Seattle\u2019s terminals and about 3 and 10 miles from the King County and Seattle Tacoma international airports, respectively.<\/p>\n\n\n\n<p>CBRE Executive Vice Presidents Andrew Stark\u00a0and Andrew Hitchcock handle marketing and leasing for Seattle Metro Logistics.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-port-of-seattle-s-approach-to-incentivizing-business\">The Port of Seattle&#8217;s approach to incentivizing business<\/h2>\n\n\n\n<p>In 2021, the Port of Seattle Commission approved a long-term ground lease to Trammell Crow for the port-owned land upon which the facility rose. The deal also aided the port in its Century Agenda\u2014an economic development partnership program.<\/p>\n\n\n\n<p>The agenda served to provide local support through two-year grants awarded to fund projects and initiatives. The capital was set aside for projects that benefit small and emerging businesses, create jobs and foster business growth, among others.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-metro-seattle-industrial-deliveries-to-stall-as-vacancy-rises\">Metro Seattle industrial deliveries to stall as vacancy rises<\/h2>\n\n\n\n<p>During the third quarter, developers brought online 2.1 million square feet of industrial space, according to a report by Cushman &amp; Wakefield, as several major <a href=\"https:\/\/www.commercialsearch.com\/news\/top-projects-that-will-reshape-seattle\/\">construction projects in Seattle<\/a> wrapped up. This included the 783,000-square-foot Building E of Crow Holdings Capital and Panattoni Development Co.\u2019s FRED310. Last year, the duo <a href=\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-panattoni-secure-252m-for-seattle-area-mega-project\/\">landed $252.3 million in construction financing<\/a> for the 2.2 million-square-foot project.<\/p>\n\n\n\n<p>The fourth quarter is set to witness the delivery of 1.5 million square feet of industrial product, Cushman &amp; Wakefield adds, leaving 13.8 million square feet of industrial space in the planning and permitting stages. Much of the latter is unlikely to break ground beyond 2024, as <a href=\"https:\/\/www.commercialsearch.com\/news\/is-the-rise-in-construction-costs-decelerating\/\">rising construction costs<\/a> hinder the feasibility of many shovels hitting dirt.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is the metro&#8217;s second such facility.<\/p>\n","protected":false},"author":3471,"featured_media":1004734291,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21748,21742,1610,15],"tags":[41597,32789,44078,52445,32893],"class_list":["post-1004734290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-industrial","category-latest","category-seattle","category-west","tag-bank-ozk","tag-cbre","tag-metlife-investment-management","tag-nelson-worldwide","tag-trammell-crow-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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