June 16, 2020
Bellevue-based Pine Forest Properties acquired a fully-entitled 4.8-acre property at Riverside Business Park in Everett from Auburn-based Latitude Development for $4.5 million. The North End industrial market site is fully entitled for development of an 82,200-square-foot building.
The 86-acre Riverside Business Park, at 505 E. Marine View Dr., was a former Weyerhaeuser mill on the Snohomish River. The business park is within the Port of Everett’s master-plan project encompassing nine development parcels.
The Broderick Group’s Steve Henderson, Al Hodge and Rawley Holmberg are marketing the building for lease.
Pine Forest remains bullish on the Everett market, despite the challenges faced by Boeing, one of the market’s largest occupiers. Last year, Pine Forest acquired an adjacent 104,600-square-foot property leased to France-based Safran Aerospace for nearly $22.2 million. Other owners and tenants at Riverside Business Park include FedEx and Amazon.
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