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King County Acquires Flour Mill on Harbour Island

SEATTLE-The seller, Pendleton Flour Mills, will continue to lease space in a portion of the 90,000-sf warehouse on the site along with Puratos, a provider of products and services to bakers, pastry-chefs and chocolatiers, until the county decides whether to use the site as a solid waste transfer site.

By Brian K. Miller | Updated on August 05, 2003

SEATTLE-King County has closed on its $8.5-million acquisition of a 12.1-acre property on Harbour Island that includes a 90,000-sf warehouse.

The county is considering the site for an intermodal yard to handle truck-to-rail-and possibly truck-to-barge-transfers of solid waste. Meantime, it has leased a total of 60,000 sf in the warehouse back to the seller, Pendleton Flour Mills, and Puratos, a provider of products and services to bakers, pastry-chefs and chocolatiers. The two four-year leases are generating $20,000 ($0.33 per sf) in monthly rental revenues, not including reimbursement for water, sewer and electricity.

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