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June 18, 2020
Last month, Pine Forest Properties paid $4.5 million for an entitled development site at 405 Riverside Road in Everett's Latitude Business Park. Now it's announced plans to develop Building B at the park, where it already owns Building A. The new building, on almost 5 acres, could have up to 100,000 square feet, with 30-foot clear heights. Broderick Group's Steve Henderson, Al Hodge and Rawley Holmberg are leasing the space, which could be a build-to-suit project. “We're bullish on the continued growth of the North End industrial market, and we're ready to move forward with development,” said Matt Wickens of Pine Forest. That company, based in Bellevue, is the investment and development arm of the Burnstead family. Last year it paid $22 million for Building A (pictured), which is leased to Safran Aerospace (formerly Northwest Aerospace Technologies/Zodiac Aerospace). No architect or general contractor are specified.