Massive Pierce County warehouse project launches. Phase 1 calls for 2.3M square feet
A massive warehouse project in Frederickson is starting construction, less than a year after the site was purchased from The Boeing Co. for $200 million in 2021, the largest deal that year, according to county records.
The nearly 310-acre parcel is owned and being developed by a real estate fund advised by Crow Holdings Capital and commercial real estate firm Panattoni Development Co. It is set in Phase 1 to have four warehouse/distribution buildings totaling more than 2.3 million square feet.
The project, called the FRED310, is near Canyon Road East and East 176th Street in Frederickson, with construction scheduled to finish in early 2024.
“We are excited to be moving forward with FRED310,” said Travis Hale, Seattle partner for Panattoni, in a statement Tuesday. “This development is located in a world class market with strong industrial fundamentals and rising demand, particularly for distribution and manufacturing space.”
Cushman & Wakefield, a commercial real estate services firm handling marketing of the project, announced Tuesday the site had signed a new lease for 1.1 million square feet in one of the buildings to an unnamed “leading specialty retailer.”
When fully built out, “FRED310 will offer the potential for the development of as much as 4 million square feet of new Class A industrial product,” according to Tuesday’s release.
According to the release, “The project will offer ample dock high and grade loading, 36 foot to 40 foot clear heights, abundant auto/trailer parking and large modern truck courts.”
The development received a Mitigated Determination of Nonsignificance from Pierce County in July and did not require an environmental impact statement as long as terms of the mitigation were met.
The project received push back earlier in the year from some people, including representatives of the nearby Fir Meadows community.
In a letter sent to Planning and Development in January, members of the Fir Meadows Management Association, representing 305 properties bordering the site, listed concerns over flooding and tree removal, among other issues, and requested additional environmental impact studies.
“This may be just another industrial site project for Pierce County, however your neighbors have called this our home for 54 years. Please do additional studies in all areas referenced in this comment,” the board members wrote.
The MDNS came with several traffic mitigation requirements improving access to planned buildings before occupancy.
The MDNS also noted a cultural resource monitoring plan from Aqua Terra Cultural Resource Consultant was approved by the Puyallup Indian Tribe historic preservation officer.
“Monitoring for Cultural Resources will take place during clearing and grading activities. An Inadvertent Discovery Plan has also been provided by Planning and Public Works to the project proponents,” it added.
The project is being touted not only as giving a significant boost to the area’s warehouse/logistics space inventory but also for the rarity of that amount of land with access to other hubs.
“This modern development is ideal for large manufacturing, distribution, and logistics operations with its easy access to multiple modes of transport including the Port of Tacoma, rail and highways,” said Cushman & Wakefield executive director Patrick Mullin in the release. “Further adding to its appeal are the surrounding favorable demographics and high-profile corporate neighbors and abundant labor.”
The site’s marketing website is at fred310.com. The county’s one-stop portal for the project to see permitting activity and more details is at piercecountywa.gov/7639/FRED-310.
This story was originally published August 9, 2022 at 2:11 PM.
