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Meridian Campus' Commercial Sites Continue to Move

LACEY, WA-Sales of commercial sites in the 1,153-acre master planned community are moving ahead of schedule. Thus far, 65% of the 271-acre total has been acquired by local developers, and 360,000 sf of predominantly-industrial space has been delivered.

By Janet Parker | Updated on December 11, 2001

LACEY, WA-The 1,153-acre master planned community was a long time in departing the starting line. Early planning and the project’s first steps were taken by former owner, Weyerhaeuser, which had owned the property since the 1950′s. But Meridian Campus did not exit the gate until 1993—and slowly at that. Then in 1998, with growth north in Seattle hitting record speeds, commercial sales here began to roll. And since, development acreage has sold at a respectable clip—with the events of September 11 failing to stall velocity.

Responsibility for Meridian Campus lies with Michael Massoth, the general manager who was packaged into the deal when Meridian Campus was purchased by Hong Kong-based Vicwood Development Corp. in January 1999. A spokesperson for Massoth’s office says commercial sales have been so strong that the company recently asked the City of Lacey to reduce the size of a buffer to help meet anticipated demand.

One of the two outside brokers hawking Meridian property is Vanessa Herzog with the Tacoma office of Kidder Mathews & Segner. While she says the aftermath of 9/11 affected leasing efforts of some developers, Herzog adds, “We did not lose any sales, and projects’ moving forward were not affected.”

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