TACOMA, Wash. (October 2018) – Vector Development Company, a Pacific Northwest commercial real estate development, investment and asset management firm, today announced it will build Tacoma I-5 Distribution Center, a $9.5 million industrial facility located at 2519 South 96th Street in Tacoma, Wash.
Developed by Vector, the flexible 78,000-square-foot facility is targeted to be leased to one or more distribution, warehouse or manufacturing tenants.
Tacoma I-5 fills an industrial gap in an area with few distribution centers. The site strategically faces I-5 with convenient freeway access and with close proximity to the Port of Tacoma. The location also offers numerous restaurant amenities, transit options and optimal visibility for I-5 advertising opportunities.
Pennon Construction has been selected as general contractor for Tacoma I-5. Designed by SynThesis Architects, Vector also has hired Barghausen Consulting Engineers and Shutler Consulting Engineers to provide engineering services. Doug Klein and Laura Fox of Kidder Mathews will be leasing the project for Vector.
Construction is scheduled to begin in March of 2019 and is expected to be completed by September of 2019.
Vector recently announced it is developing Soos Creek Business Park, a $45 million, 382,000-square-foot industrial business park in Covington, Wash.; and a 950-unit, Class-A, three-story self-storage industrial project in Tacoma. Both facilities are scheduled to break ground in the spring of 2019.
“We are interested in additional development projects and build-to-suit opportunities throughout western Washington,” said Tyler Litzenberger, president of Vector Development Company.
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. Some of his notable Washington projects include Fennel Creek Industrial Park in Bonney Lake, Washington Realtors Office Building in Olympia; and extensive involvement with 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.