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November 15, 2018

NBS secures Everett FedEx hub loan

Norris, Beggs & Simpson has secured $19.5 million to build a new FedEx Express distribution center in Everett. The borrower was Underwood Gartland Johnson, and the 122,286-square-foot building is called UGJ63. It will be on almost 10.5 acres at 7301 Hardeson Rd., in the Evergreen neighborhood north of Highway 526. NBS's Mike Wood and Colin Ceithaml arranged the loan from State Farm Life Insurance Co. It has a 7-year term and a 30-year amortization. FedEx is moving from a smaller facility in Bothell. Underwood Gartland Johnson acquired the Everett site last year for a little over $5 million. The start and completion dates for the FedEx facility weren't announced.

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