MARYSVILLE, Wash. (June 17, 2019) – Vector Development Company, a Pacific Northwest commercial real estate development, investment and asset management firm, today announced it has begun construction on MI-5 Business Park, located at 4000 156th St. NE in Marysville, Wash. The $32 million facility is targeting space to be leased to distribution and manufacturing tenants.
Vector is developing with Marysville Investment Partners, LLC, a locally based real estate investment group.
The two-building development is part of the Arlington Marysville Manufacturing Industrial Center (AMMIC), an area that provides financial incentives for the new construction of manufacturing facilities to recruit new businesses or support the expansion of existing businesses to the area.
“We are very excited to be a part of the AMMIC zone and hope prospective tenants can capitalize on these tax abatements and attract new jobs,” said Tyler Litzenberger, president of Vector Development Company. “MI-5 is also in a great location, strategically situated close to the highly desirable Everett industrial submarket, Boeing and many related aerospace businesses.”
JMR Construction has been selected as general contractor for MI-5. Designed by Lance Mueller Architects, Vector also has hired Barghausen Consulting Engineers and Shutler Consulting Engineers to provide engineering services. Lee & Associates will be leasing the project for Vector. The project is expected to be completed by the first quarter of 2020.
Vector focuses on development projects and build-to-suit opportunities throughout western Washington. The company is currently developing Tacoma I-5 Distribution Center, a $10 million industrial facility in Tacoma, Wash.; and recently completed an office building in Olympia for the Washington Realtors.
Litzenberger founded Vector Development Company following years of executive commercial real estate leadership, including serving on the development teams for Opus, Duke Realty, and most recently for Panattoni Development Company. Litzenberger also has had extensive involvement in Tacoma Gateway in Lakewood; North Auburn Logistics in Auburn; Enterprise Center in Fife, Square One Distribution in Snoqualmie, Larsen Building in Sumner and Auburn West Valley in Auburn.About Vector Development Company
Based in Kirkland, Wash., Vector Development Company (www.VectorReCorp.com) is a Pacific Northwest commercial real estate development, investment and asset management firm. The company has a successful history of involvement with multiple suburban and high-rise office and industrial development projects. Vector offers build-to-suit development and asset management services, and invests and develops real estate for its own account, long-term hold or merchant projects.