Published in Daily Journal of Commerce

Puget Properties finishes Holgate Square

By JOURNAL STAFF, June 23, 2010

Puget Properties has finished its four-building, 26,800-square-foot Holgate Square project on Airport Way and Hoglate Street south of downtown Seattle. The complex has flexible industrial work spaces that can be divided into various sizes depending on tenants' needs.

The pre-engineered metal buildings were designed by Johnson Architecture & Planning to fit into the neighborhood's industrial character. Some of those industrial-like elements are: Mini-V-Beam exterior wall panels by AEP Span; Century Wall flat insulated wall panels by Kingspan API at the storefront entries; and Simple Saver insulation from Therm-All Insulation with a matte black vapor barrier, which was left exposed but can be covered by more traditional interior finishes.

The project team included: Anderson Construction Group, general contractor; Varco Pruden Buildings, metal buildings and roof panels; KPFF Consulting Engineers, structural and civil design; and CHG Building Systems, structural steel erector. CHG also designed and provided canopies and sunscreens, and worked with Johnson and KPFF to develop a foundation/substructure for the buildings.

The Color Store, the project's first tenant, bought the 3,300-square-foot building at the corner of Airport Way and Holgate.

Jeff Richey, managing partner of Puget Properties, said they have four spaces under contract for purchase and one building under contract for lease. He declined to name the potential tenants, since the deals haven't been finalized. If all the deals go through, the project would be about 50 percent occupied, according to Richey.

For-sale rates are $250-$450 per square foot and lease rates are $14-$18 per square foot, yearly. The listing brokers are Dave Baumer and Bruce Clarkson of The Andover Co.