PCCP forms JV to build industrial warehouse near Seattle

PCCP, a real estate finance and investment management firm, has formed a joint venture with Panattoni Development Company, one of the largest privately held, full‐service development companies in the world, for the development of Glacier Peak, an industrial warehouse building totaling 201,509 square feet on a 10‐acre site in Everett, Wash., within the Seattle‐Tacoma industrial market.

The development is located at Riverside Business Park in northern Everett, approximately one and a half miles from an Interstate 5 interchange and 15 minutes to Boeing’s primary assembly plant at Paine Field Airport.

“Panattoni is one of the most experienced developer’s in the Seattle industrial market and recognized a great opportunity to deliver class A product to the healthy Everett area,” said Dorian Farhang, vice president with PCCP. Farhang also noted that the project is PCCP’s seventh speculative industrial development in joint venture with Panattoni nationwide.