DYLAN SIMON

EXECUTIVE VICE PRESIDENT, KIDDER MATHEWS

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Multifamily Update

BRET JORDAN

PRESIDENT OF NORTHWEST REGION, RYAN COMPANIES

65 S. HORTON ST. PROJECT UPDATE

Ryan Companies and New York City-based GTIS recently announced the formation of a joint venture to build a four-story, last-mile facility at 65 S. Horton St. in the Sodo district. The nearly 126,650-square-foot project is expected to cost around $42.5 million. This is the first investment in the Puget Sound area and first investment in an urban, multistory last-mile logistics facility for GTIS, a global real asset investment, and development company.

The building design will be unlike any other, with a new approach to parking, truck loading, shipping, and receiving.

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Ryan acquired the 1.1-acre property in early 2019 for $4.9 million.

CHRIS MCDOUGALL

PRESIDENT & CEO

COMMERCIAL BROKERS ASSOCIATION