Jack Rader, is general manager of CenterPoint Corporate Park, which lies across the street from Boeing's Kent Space Center--where some of the sale properties lie. Says Rader, "It goes without saying that Boeing is a huge driver in our local economy. And, to see it beset by the woes is hurtful both for the company and our community."

Rader tells GlobeSt.com, "The sale of these properties is going to have a deleterious effect on the Kent submarket by increasing the vacancy rate and reducing the dynamics of the marketplace somewhat--at least for the short term. But, having said that," Rader counters, "the other side of the coin is that there is an opportunity to diversify our economy by bringing in other industrial users that can make Puget Sound stronger in the long run."

Wilma Warshak of Seattle's office of Colliers International is marketing five Kent Space Center industrial buildings. Collectively, the approximately 800,0000 sf of industrial space are tagged for sale at $48-million--though the broker does not expect a portfolio sale.

Says Warshak, "These are highly-specialized, state-of-the-art buildings that will be very attractive to groups where the cost to build would be considerably higher." The five vary in size from 115,000 to 275,000 sf. Some are crane-served, and one is a high-end plating and finishing facility. "In some ways," Warshak offers," they will be easier to sell than development land for build-to-suit because these types of buildings are tough to find--anywhere."

Rader believes these buildings contain potential to draw new manufacturing players to Puget Sound. "That is," he adds, "assuming our elected officials and legislature get serious about doing their jobs and working on the infrastructure issues at the forefront--particularly transportation--and the state tax structure."

If the metropolitan area can remove some of its thorns and attract new companies, Rader says Puget Sound could smooth out the peaks and troughs of its economic cycle. "In the short run, Boeing woes are disconcerting and dislocating," admits Rader. But he adds, "Taking the longer view and dealing with the reality of what we have, can lead to an ultimately more stable economy with a smaller percentage of the area's jobs tied up in Boeing."

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