Foushee & Associates

Specialty: Commercial building construction
Principals: Jeff Foushee, Loch Anderson, Britt Slone, Mark Stillwell, Eric Jones
Year founded: 1977
Headquarters: Bellevue
Largest project in 2002: Totem Lake Medical Plaza

As strictly a contractor on private building jobs, Foushee & Associates is exposed to turns in the economy.

Revenues held steady at about $70 million for 2001 and 2002, while the firm projects a drop to about $65 million for this year, said principal Britt Slone.

“We do no public work,” Slone said. “We have fun with what we do and we want to stick with what has worked.

“The economy has obviously impacted the private real estate sector. Work isn’t as plentiful as it was several years ago,” he said. “We have no other choice than to accept that. At the same time, we have our core clients, and some new ones, some of which are owner-users.”

Foushee’s largest job of last year, constructing the 40,000-square-foot Totem Lake Medical Plaza offices, is still in construction. That’s an $8 million contract.

Foushee also is building two spec, flex-tech industrial buildings on Boeing’s 240-acre Pacific Gateway Business Park in Kent. The buildings, developed by Trammell Crow Co. for Boeing, are the first two structures in the park, which can be built out to 3 million square feet.

Building the first two puts Foushee in good stead to win more jobs there as Pacific Gateway builds out, Slone said. In fact, Foushee won the second construction job there, too, building a 100,000-square-foot distribution warehouse for Bob Walker.

Foushee is in the second phase of construction on what will total 150,000 square feet in five buildings of a mixed office-and-retail project in Covington called Covington Place. The project, by developer John Dulchich, will be the “gateway to Covington,” Slone said.

Construction just began on Foushee’s $3 million contract to build offices in Kent for the Pacific Northwest Regional Council of Carpenters.

Foushee also performed numerous tenant improvement projects last year, such as for Summit Law Group in developer Martin Selig’s new Fifth and Jackson office building in Seattle’s International District and for a tenant in One Convention Place in downtown Seattle.