There’s a big construction project underway in Frederickson. Here’s what’s going in there
A new regional warehouse-distribution hub for Harbor Freight Tools is one step closer to becoming reality.
Construction started Nov. 29 on the project for the national retailer as part of FRED310, the planned Frederickson industrial campus.
The 310-acre industrial campus is being developed in a joint venture by Irvine, California-based Panattoni and a real estate fund advised by Crow Holdings Capital of Dallas.
The site is at Canyon Road East and East 176th Street in Frederickson.
The land was purchased from The Boeing Co., in 2021 for $200 million. The developers and Pierce County in March announced that Harbor Freight Tools had signed on for a build-to-suit lease totaling 782,875 square feet.
Harbor Freight Tools’ long-term lease remains one of the largest industrial leases in the region in 2023, according to a release this week from Cushman & Wakefield, who is marketing the property.
Sierra Construction is the project’s general contractor.
According to the release, four buildings (C, D, E, G) totaling 3,266,390 square feet are already under construction.
“The industrial park is expected to expand to as much as 4 million square feet once all six buildings are completed,” it noted.
Earlier this fall, FRED310 gained $252.3 million in construction financing for three of the site’s buildings planned buildings, one of those being the Harbor Freight Tools site. The financing came from PCCP of Los Angeles, a real estate finance and investment firm.
Last year, A team from Cushman and Wakefield closed on a more than 1.1-million square feet lease to Atlanta-based Floor & Décor at FRED310.
To learn more about the Frederickson campus, go to fred310.com.
