Panattoni Development Company, Inc. has finalized a long-term ground lease agreement with the Port of Seattle for the development of a major industrial project at Des Moines Creek Business Park West.
Strategically situated just west of the intersection of South 20th Avenue and South 216th Street in Des Moines, Washington, the site is set to be transformed into a 405,680-square-foot, state-of-the-art logistics and manufacturing facility. Construction is scheduled to begin this summer, with completion and delivery anticipated in 2026.
The facility will be located adjacent to the FAA headquarters and only minutes from Seattle-Tacoma International Airport, offering excellent connectivity to major transportation corridors including I-5, SR 509, and the Sound Transit light rail system.
“This ground lease represents more than a development—it’s a critical public-private partnership that helps unlock one of the last large-scale industrial opportunities in the region,” said Travis Hale, Partner at Panattoni.
Leasing efforts for the project are being managed by Thad Mallory of Newmark and Chris Corr of Kidder Mathews. Perlo Construction has been named general contractor, and Nelson Architects will serve as the project’s architect.
