Three buildings in the Ballard-Fremont area owned by Marine Fluids are being torn down to make way for a 39,000-square-foot office-warehouse called the Marine Business Center. The site is located at Northwest 42nd Street and Ninth Avenue Northwest.
General contractor SGA Corp. has demolished two of the buildings and expects to have the third down later this week. The old buildings total about 15,000 square feet. In about two weeks, crews are expected to start installing auger-cast pilings.
The new building will have a 16,800-square-foot first floor, 16,400-square-foot second floor and 5,700-square-foot mezzanine. It will be built of concrete tilt-up panels with pre-finished metal roofing. Construction costs are about $2.8 million.
The speculative project is targeting the fishing and boating industries, but could have space for artists' studios. First floor industrial space will be 75 to 80 cents per square foot, triple net. Second floor office space will go for $14 per square foot, triple net, plus a $20 to $25 per square foot tenant improvement allowance. Space can be divisible to 1,000 square feet.
Broker Stan Snow of GVA Kidder Mathews says he has letters of intent for some of the space. Construction is expected to be finished next May.
The project team includes designer David Kehle Architect, civil engineer Barghausen Consulting Engineers, lender Intervest and developer Ironwood Investments LLC. Ironwood includes principals of SGA and Marine Fluids.
Image by Austin Dwyer
