4d supp
New Development in SeaTac Item # 4d_Supp Meeting Date August 8, 2017 Des Moines Creek-North ground lease will help advance economic SeaTac airport development within the City of SeaTac and for surrounding communities: The project will provide approximately 90+ prevailing wage construction jobs during the build out of the property. At full occupancy, the development will be home to approximately 400+ full- time employees with an estimated Des Moines Creek payroll of more than $28 million Business Park annually. New Jobs and Economic Impacts 1 Competitive RFP Drives Good Partnership The Port ultimately reached out to 30+ qualified real estate developers with records of accomplishment in industrial and air cargo related development. Four developers submitted offers to the RFP and included a Letter of Intent ("LOI") The firm selected, Trammell Crow Company ("TCC"), is one of the nation's leading developers and investors in commercial real estate. TCC has developed or acquired more than 2,600 buildings valued at more than $60 billion and over 565 million square feet. Trammell Crow Will Attract Industrial and Aviation Related Tenants 2 Trammell Crow Will Attract Industrial and Aviation Related Tenants 2 The proposed development by Trammell Crow Northwest Development will create more than 356k square feet of high quality, light industrial space with supporting warehouse functions within two industrial buildings. Tenants may include food processors, manufacturers, and logistics providers that support the aviation and air cargo industries. Trammell Crow Company was recently named as the #1 Development Company in the US for 2016 3
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