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May 12, 2016

Survey: Adolfson & Peterson Construction

Photo by Aaron Locke/BCRA [enlarge]
AP Construction built the Gordon Family YMCA in Sumner, the largest Y in the state.

Specialty: Privately held builder consistently ranked among the top 50 construction managers and general contractors in the nation

Management: Kris Beason, vice president/general manager, Pacific Northwest

Founded: 1946

Headquarters: Minneapolis; local office in Tacoma

2015 revenues: $782 million

Projected 2016 revenues: $810 million

Projects: Station House Lofts; Gordon Family YMCA

AP vice president/general manager Kris Beason answered questions from the DJC about trends and issues in the industry.

Q: Have you focused on any new sectors in the last year?

A: Our bread and butter markets tend to be multifamily, industrial and recreation, of which we have several projects underway and in preconstruction. Specifically, with the significant increase in regional office construction the last several years, we are anticipating growth in the Class A commercial tenant improvement market for both newly constructed spaces and for Class A minus and Class B spaces that have been vacated by tenants moving into new buildings.

Q: Any new delivery methods that AP is pursuing?

A: The vast majority of our work continues to be negotiated, but in the last year we’ve seen a significant uptick in design-build opportunities.

Q: What areas of the Northwest are you seeing more work?

A: Historically, AP Construction has been thought of as a Pierce County contractor but right now 95 percent of our work is in King County. We have strong relationships with owners, design teams and other project partners based in the South Sound. And, we want to continue being their “go-to” contractor, but we can’t ignore demand for construction that is happening throughout King County.

Q: How will the local economy perform in the next year or so?

A: The Puget Sound area is fortunate to have so many thriving Fortune 500 companies. It’s unusual — and economically healthy — for a region to have the balance between technology and manufacturing that Seattle does. That said, we anticipate a slow decline of the office market, which has been driven by growth in the technology sector. But when one market turns, other markets naturally begin to rise. Over the next 12 months, we see continued growth in the industrial sector, as well as mixed-used and urban infill residential projects — both apartment and condos.

Q: Which project are you particularly proud of?

A: We recently completed the Gordon Family YMCA in Sumner. It is the largest Y in the state of Washington and our 11th project for the YMCA of Pierce and Kitsap Counties.

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