Mortenson Development Inc., or MDI, announced Thursday that is has been selected by the city of Kent to acquire and develop a 9.3-acre site in Kent for a modern, build-to-suit campus designed to support the region’s specialized manufacturing economy.
The future Naden Avenue Manufacturing Campus is immediately east of State Route 167 on Naden Avenue South between West Meeker and Willis streets. MDI has agreed to purchase and develop the site in up to two phases, with a purchase price of $45 per square foot, according to a Feb. 3 city council agenda packet. The price per square foot amounts to $18.3 million for the 406,684 square feet of property.
The site is positioned to leverage the strong industrial and manufacturing workforce in the area, with access to a skilled labor pool and a dynamic ecosystem of aerospace, defense, and emerging space companies, according to an MDI news release. The South Sound’s growing space sector was featured in South Sound Business in November…